AKAM vs SPY: Correlation
How closely do Akamai Technologies (AKAM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKAM and SPY?
On 3 years of weekly data the AKAM/SPY correlation comes out at 0.18, weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.18). The 5-year figure is 0.33, and annualized covariance runs at 121.3 %².
Among the 30 assets we track against AKAM, SPY ranks #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AKAM outperformed by 21.5 percentage points (+42.1% for AKAM against +20.6% for SPY). The relationship is regime-dependent: the rolling one-year correlation swung between -0.07 and 0.70 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since AKAM 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.
AKAM vs SPY: side by side
| AKAM (Akamai Technologies) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +42.1% | +20.6% |
| 5-year return | -1.6% | +82.4% |
| Volatility (ann.) | 45.7% | 14.5% |
| Beta vs S&P 500 | 0.58 | 1.00 |
| Max drawdown (3Y) | -46.8% | -18.8% |
| Market cap | $16.0B | – |
| P/E (trailing) | 40.3 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | 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 | AKAM | SPY |
|---|---|---|
| 2022 | -28.0% | -18.2% |
| 2023 | +40.4% | +26.2% |
| 2024 | -19.2% | +24.9% |
| 2025 | -8.8% | +17.7% |
| 2026 | +27.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKAM and SPY good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AKAM and SPY?
As of 2026-08-27, the correlation of weekly returns between AKAM and SPY is 0.18 over 3 years, 0.02 over 1 year and 0.33 over 5 years.
Is SPY a good diversifier for AKAM?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AKAM correlations · SPY correlations
