ITRI vs SPSC: Correlation
Measured on weekly returns over the past three years, Itron, Inc. (ITRI) and SPS Commerce, Inc. (SPSC) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITRI and SPSC?
Across a 3-year window, the weekly returns of ITRI and SPSC correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 954.6 %².
In ITRI's tracked universe of 21 assets, SPSC sits right near the top at #2. On 12-month performance ITRI holds a 5.5-point edge, -19.9% against -25.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ITRI vs SPSC: side by side
| ITRI (Itron, Inc.) | SPSC (SPS Commerce, Inc.) | |
|---|---|---|
| 1-year return | -19.9% | -25.4% |
| 5-year return | +17.0% | -38.6% |
| Volatility (ann.) | 38.9% | 44.2% |
| Beta vs S&P 500 | 1.14 | 1.10 |
| Max drawdown (3Y) | -43.6% | -76.8% |
| Market cap | $4.3B | $3.0B |
| P/E (trailing) | 16.5 | 40.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITRI | SPSC |
|---|---|---|
| 2022 | -26.1% | -9.8% |
| 2023 | +49.1% | +50.9% |
| 2024 | +43.8% | -5.1% |
| 2025 | -14.5% | -51.6% |
| 2026 | +6.9% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITRI and SPSC good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ITRI and SPSC?
The ITRI/SPSC correlation stands at 0.56 on a 3-year window (1 year: 0.61, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SPSC a good diversifier for ITRI?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: ITRI correlations · SPSC correlations
