ARKK vs ORIO: Correlation
How closely do ARK Innovation ETF (ARKK) and Orion Digital Corp. (ORIO) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and ORIO?
Over the past 3 years, ARKK and ORIO moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1512.7 %².
Among the 122 assets we track against ARKK, ORIO ranks #73 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARKK ahead by 70.4 points (+15.7% versus -54.7%). Risk is not evenly split, since ORIO carries 2.1 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 ORIO: side by side
| ARKK (ARK Innovation ETF) | ORIO (Orion Digital Corp.) | |
|---|---|---|
| 1-year return | +15.7% | -54.7% |
| 5-year return | -27.7% | -94.6% |
| Volatility (ann.) | 38.8% | 79.6% |
| Beta vs S&P 500 | 2.07 | 2.19 |
| Max drawdown (3Y) | -39.6% | -75.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | ORIO |
|---|---|---|
| 2022 | -67.0% | -84.5% |
| 2023 | +69.0% | +15.9% |
| 2024 | +8.4% | -26.1% |
| 2025 | +35.5% | -21.3% |
| 2026 | +13.6% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and ORIO good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARKK and ORIO?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.53 over the last year and 0.53 over 5 years.
Is ORIO a good diversifier for ARKK?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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-orio.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARKK correlations · ORIO correlations
