ARKK vs ICLN: Correlation
ARK Innovation ETF (ARKK) and iShares Global Clean Energy ETF (ICLN) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and ICLN?
Over the past 3 years, ARKK and ICLN moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 406.8 %².
Within ARKK's tracked universe of 122 assets, ICLN comes in at #94 by 3-year correlation. The trailing year gives ICLN the advantage: +15.7% versus +25.6%, a 9.9-point spread. The relationship is regime-dependent: the rolling one-year correlation swung between 0.16 and 0.73 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since ARKK carries 1.6 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.
ARKK vs ICLN: side by side
| ARKK (ARK Innovation ETF) | ICLN (iShares Global Clean Energy ETF) | |
|---|---|---|
| 1-year return | +15.7% | +25.6% |
| 5-year return | -27.7% | -18.4% |
| Volatility (ann.) | 38.8% | 24.0% |
| Beta vs S&P 500 | 2.07 | 0.78 |
| Max drawdown (3Y) | -39.6% | -34.6% |
| Dividend yield | – | 1.05% |
| Expense ratio | – | 0.39% |
| Assets under management | – | $2.3B |
| Sector / category | ETF · Thematic | ETF · Thematic |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield.
Year-by-year returns
| Year | ARKK | ICLN |
|---|---|---|
| 2022 | -67.0% | -5.4% |
| 2023 | +69.0% | -20.4% |
| 2024 | +8.4% | -25.7% |
| 2025 | +35.5% | +47.0% |
| 2026 | +13.6% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and ICLN good diversifiers for each other?
Reasonably. At 0.44, ARKK and ICLN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARKK and ICLN?
The ARKK/ICLN correlation stands at 0.44 on a 3-year window (1 year: 0.43, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is ICLN a good diversifier for ARKK?
Reasonably. At 0.44, ARKK and ICLN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-icln.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arkk-vs-icln/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARKK correlations · ICLN correlations
