AMKR vs SPY: Correlation
Measured on weekly returns over the past three years, Amkor Technology, Inc. (AMKR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMKR and SPY?
On 3 years of weekly data the AMKR/SPY correlation comes out at 0.56, moderate. The past 12 months show a weaker link (0.45) than the 3-year average (0.56). The 5-year figure is 0.58, and annualized covariance runs at 468.0 %².
Within AMKR's tracked universe of 17 assets, SPY comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AMKR outperformed by 91.7 percentage points (+112.3% for AMKR against +20.6% for SPY). Note the risk asymmetry: AMKR runs 4.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMKR vs SPY: side by side
| AMKR (Amkor Technology, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +112.3% | +20.6% |
| 5-year return | +98.2% | +82.4% |
| Volatility (ann.) | 57.4% | 14.5% |
| Beta vs S&P 500 | 2.24 | 1.00 |
| Max drawdown (3Y) | -65.9% | -18.8% |
| Market cap | $12.9B | – |
| P/E (trailing) | 21.6 | – |
| Dividend yield | 0.69% | 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 | AMKR | SPY |
|---|---|---|
| 2022 | -2.3% | -18.2% |
| 2023 | +40.3% | +26.2% |
| 2024 | -20.8% | +24.9% |
| 2025 | +55.9% | +17.7% |
| 2026 | +31.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMKR and SPY good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMKR and SPY?
The AMKR/SPY correlation stands at 0.56 on a 3-year window (1 year: 0.45, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for AMKR?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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: AMKR correlations · SPY correlations
