POWI vs SPY: Correlation
Measured on weekly returns over the past three years, Power Integrations, Inc. (POWI) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are POWI and SPY?
Across a 3-year window, the weekly returns of POWI and SPY correlate at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.49 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 331.4 %².
Among the 17 assets we track against POWI, SPY ranks #11 by 3-year correlation. Their 12-month results are close: +20.5% for POWI against +20.6% for SPY. Risk is not evenly split, since POWI carries 3.2 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.
POWI vs SPY: side by side
| POWI (Power Integrations, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.5% | +20.6% |
| 5-year return | -46.7% | +82.4% |
| Volatility (ann.) | 46.5% | 14.5% |
| Beta vs S&P 500 | 1.59 | 1.00 |
| Max drawdown (3Y) | -63.6% | -18.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 125.7 | – |
| Dividend yield | 1.55% | 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 | POWI | SPY |
|---|---|---|
| 2022 | -22.1% | -18.2% |
| 2023 | +15.6% | +26.2% |
| 2024 | -24.0% | +24.9% |
| 2025 | -41.3% | +17.7% |
| 2026 | +56.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are POWI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between POWI and SPY?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.38 over the last year and 0.51 over 5 years.
Is SPY a good diversifier for POWI?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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: POWI correlations · SPY correlations
