ALKT vs SPY: Correlation
Alkami Technology, Inc. (ALKT) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKT and SPY?
Across a 3-year window, the weekly returns of ALKT and SPY correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 273.3 %².
By 3-year correlation, SPY places #6 of the 11 assets tracked against ALKT. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 40.1 percentage points (-19.5% for ALKT against +20.6% for SPY). One caveat on sizing: ALKT is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALKT vs SPY: side by side
| ALKT (Alkami Technology, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -19.5% | +20.6% |
| 5-year return | -28.5% | +82.4% |
| Volatility (ann.) | 45.4% | 14.5% |
| Beta vs S&P 500 | 1.31 | 1.00 |
| Max drawdown (3Y) | -65.4% | -18.8% |
| Market cap | $2.2B | – |
| 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 | ALKT | SPY |
|---|---|---|
| 2022 | -27.3% | -18.2% |
| 2023 | +66.2% | +26.2% |
| 2024 | +51.3% | +24.9% |
| 2025 | -37.1% | +17.7% |
| 2026 | -11.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKT and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALKT and SPY?
The ALKT/SPY correlation stands at 0.42 on a 3-year window (1 year: 0.32, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ALKT?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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: ALKT correlations · SPY correlations
