ARKK vs INDI: Correlation
How closely do ARK Innovation ETF (ARKK) and indie Semiconductor, Inc. (INDI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and INDI?
Over the past 3 years, ARKK and INDI moved with a correlation of 0.55, which is moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.55). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1839.2 %².
Within ARKK's tracked universe of 122 assets, INDI comes in at #47 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARKK ahead by 28.6 points (+15.7% versus -12.9%). Note the risk asymmetry: INDI runs 2.2 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 INDI: side by side
| ARKK (ARK Innovation ETF) | INDI (indie Semiconductor, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -12.9% |
| 5-year return | -27.7% | -59.1% |
| Volatility (ann.) | 38.8% | 86.4% |
| Beta vs S&P 500 | 2.07 | 3.07 |
| Max drawdown (3Y) | -39.6% | -81.3% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | INDI |
|---|---|---|
| 2022 | -67.0% | -51.4% |
| 2023 | +69.0% | +39.1% |
| 2024 | +8.4% | -50.1% |
| 2025 | +35.5% | -12.8% |
| 2026 | +13.6% | +14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and INDI good diversifiers for each other?
Only partially. A correlation of 0.55 means ARKK and INDI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARKK and INDI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.41 over the last year and 0.53 over 5 years.
Is INDI a good diversifier for ARKK?
Only partially. A correlation of 0.55 means ARKK and INDI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arkk-vs-indi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arkk-vs-indi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARKK correlations · INDI correlations
