ARKK vs ASG: Correlation
How closely do ARK Innovation ETF (ARKK) and Liberty All-Star Growth Fund, Inc. (ASG) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and ASG?
Across a 3-year window, the weekly returns of ARKK and ASG correlate at 0.75, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 530.9 %².
Within ARKK's tracked universe of 122 assets, ASG comes in at #13 by 3-year correlation. Over the last 12 months ARKK came out ahead by 12.4 percentage points (+15.7% against +3.3%). Note the risk asymmetry: ARKK runs 2.1 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.
ARKK vs ASG: side by side
| ARKK (ARK Innovation ETF) | ASG (Liberty All-Star Growth Fund, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +3.3% |
| 5-year return | -27.7% | -5.6% |
| Volatility (ann.) | 38.8% | 18.3% |
| Beta vs S&P 500 | 2.07 | 1.12 |
| Max drawdown (3Y) | -39.6% | -25.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 23.9 |
| Dividend yield | – | 8.76% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | ASG |
|---|---|---|
| 2022 | -67.0% | -40.9% |
| 2023 | +69.0% | +16.2% |
| 2024 | +8.4% | +16.8% |
| 2025 | +35.5% | +2.2% |
| 2026 | +13.6% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and ASG good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARKK and ASG?
The ARKK/ASG correlation stands at 0.75 on a 3-year window (1 year: 0.67, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is ASG a good diversifier for ARKK?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/arkk-vs-asg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arkk-vs-asg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARKK correlations · ASG correlations
