NTRP vs SPY: Correlation
Measured on weekly returns over the past three years, NextTrip, Inc. (NTRP) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRP and SPY?
On 3 years of weekly data the NTRP/SPY correlation comes out at 0.00, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.14 versus 0.00 over 3 years. The 5-year figure is 0.09, and annualized covariance runs at 7.9 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against NTRP. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 82.4 percentage points (-61.8% for NTRP against +20.6% for SPY). Risk is not evenly split, since NTRP carries 9.6 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.
NTRP vs SPY: side by side
| NTRP (NextTrip, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -61.8% | +20.6% |
| 5-year return | -98.0% | +82.4% |
| Volatility (ann.) | 139.9% | 14.5% |
| Beta vs S&P 500 | 0.04 | 1.00 |
| Max drawdown (3Y) | -84.7% | -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 | NTRP | SPY |
|---|---|---|
| 2022 | -78.3% | -18.2% |
| 2023 | -62.2% | +26.2% |
| 2024 | +99.5% | +24.9% |
| 2025 | -46.4% | +17.7% |
| 2026 | -57.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRP and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTRP and SPY?
Using weekly returns as of 2026-08-27: 0.00 over 3 years, with 0.14 over the last year and 0.09 over 5 years.
Is SPY a good diversifier for NTRP?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
What does a correlation of 0.00 mean?
On the −1 to +1 scale, 0.00 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: NTRP correlations · SPY correlations
