AFJK vs SPY: Correlation
How closely do Aimei Health Technology Co., Ltd (AFJK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFJK and SPY?
On 3 years of weekly data the AFJK/SPY correlation comes out at 0.01, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.02 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 38.2 %².
Among the 29 assets we track against AFJK, SPY ranks #8 by 3-year correlation. Over the last 12 months SPY came out ahead by 12.2 percentage points (+8.4% against +20.6%). Risk is not evenly split, since AFJK carries 13.6 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.
AFJK vs SPY: side by side
| AFJK (Aimei Health Technology Co., Ltd) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +8.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 197.3% | 14.5% |
| Beta vs S&P 500 | 0.18 | 1.00 |
| Max drawdown (3Y) | -86.8% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 174.3 | – |
| 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 | AFJK | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | – | +24.9% |
| 2025 | +498.2% | +17.7% |
| 2026 | -80.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFJK and SPY good diversifiers for each other?
Yes. With a correlation of 0.01, AFJK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFJK and SPY?
The AFJK/SPY correlation stands at 0.01 on a 3-year window (1 year: 0.02, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AFJK?
Yes. With a correlation of 0.01, AFJK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/afjk-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/afjk-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFJK correlations · SPY correlations
