NTIP vs SPY: Correlation
Measured on weekly returns over the past three years, Network-1 Technologies, Inc. (NTIP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTIP and SPY?
Across a 3-year window, the weekly returns of NTIP and SPY correlate at -0.02, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.18 versus -0.02 over 3 years. Stretching to 5 years gives 0.09, with an annualized covariance of -9.2 %².
By 3-year correlation, SPY places #6 of the 14 assets tracked against NTIP. The trailing year gives SPY the advantage: +12.5% versus +20.6%, a 8.1-point spread. Note the risk asymmetry: NTIP runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NTIP vs SPY: side by side
| NTIP (Network-1 Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +12.5% | +20.6% |
| 5-year return | -36.5% | +82.4% |
| Volatility (ann.) | 30.6% | 14.5% |
| Beta vs S&P 500 | -0.04 | 1.00 |
| Max drawdown (3Y) | -49.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.37% | 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 | NTIP | SPY |
|---|---|---|
| 2022 | -18.7% | -18.2% |
| 2023 | +3.5% | +26.2% |
| 2024 | -35.6% | +24.9% |
| 2025 | +5.4% | +17.7% |
| 2026 | +21.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTIP and SPY good diversifiers for each other?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NTIP and SPY?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with -0.18 over the last year and 0.09 over 5 years.
Is SPY a good diversifier for NTIP?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.02 mean?
A reading of -0.02 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NTIP correlations · SPY correlations
