MITQ vs SPY: Correlation
Moving iMage Technologies, Inc. (MITQ) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITQ and SPY?
Over the past 3 years, MITQ and SPY moved with a correlation of -0.02, which is near zero, meaning they move largely independently. The past 12 months show a tighter link (0.38) than the 3-year average (-0.02). Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is -23.6 %².
SPY is close to the least connected end of MITQ's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with SPY ahead by 43.2 points (-22.6% versus +20.6%). Risk is not evenly split, since MITQ carries 5.8 times the volatility of the other side.
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.
MITQ vs SPY: side by side
| MITQ (Moving iMage Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.6% | +20.6% |
| 5-year return | -82.9% | +82.4% |
| Volatility (ann.) | 84.1% | 14.5% |
| Beta vs S&P 500 | -0.11 | 1.00 |
| Max drawdown (3Y) | -66.4% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | MITQ | SPY |
|---|---|---|
| 2022 | -45.2% | -18.2% |
| 2023 | -17.8% | +26.2% |
| 2024 | -31.2% | +24.9% |
| 2025 | +1.7% | +17.7% |
| 2026 | -12.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITQ and SPY good diversifiers for each other?
Yes. With a correlation of -0.02, MITQ and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MITQ and SPY?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with 0.38 over the last year and 0.08 over 5 years.
Is SPY a good diversifier for MITQ?
Yes. With a correlation of -0.02, MITQ and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.02 mean?
On the −1 to +1 scale, -0.02 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: MITQ correlations · SPY correlations
