ARKK vs AXON: Correlation
Measured on weekly returns over the past three years, ARK Innovation ETF (ARKK) and Axon Enterprise (AXON) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and AXON?
Over the past 3 years, ARKK and AXON moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1195.5 %².
Within ARKK's tracked universe of 122 assets, AXON comes in at #49 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARKK ahead by 36.3 points (+15.7% versus -20.6%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.43 and 0.66.
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 AXON: side by side
| ARKK (ARK Innovation ETF) | AXON (Axon Enterprise) | |
|---|---|---|
| 1-year return | +15.7% | -20.6% |
| 5-year return | -27.7% | +216.9% |
| Volatility (ann.) | 38.8% | 57.4% |
| Beta vs S&P 500 | 2.07 | 1.51 |
| Max drawdown (3Y) | -39.6% | -60.3% |
| Market cap | – | $49.7B |
| P/E (trailing) | – | 250.5 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | Industrials |
Year-by-year returns
| Year | ARKK | AXON |
|---|---|---|
| 2022 | -67.0% | +5.7% |
| 2023 | +69.0% | +55.7% |
| 2024 | +8.4% | +130.1% |
| 2025 | +35.5% | -4.4% |
| 2026 | +13.6% | +7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and AXON good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARKK and AXON?
The ARKK/AXON correlation stands at 0.54 on a 3-year window (1 year: 0.54, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is AXON a good diversifier for ARKK?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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-axon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arkk-vs-axon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARKK correlations · AXON correlations
