ARKK vs SDGR: Correlation
Measured on weekly returns over the past three years, ARK Innovation ETF (ARKK) and Schrodinger, Inc. (SDGR) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and SDGR?
Over the past 3 years, ARKK and SDGR moved with a correlation of 0.59, which is moderate. The link has tightened recently: the 1-year correlation (0.72) runs above the 3-year figure (0.59). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 1316.2 %².
Within ARKK's tracked universe of 122 assets, SDGR comes in at #39 by 3-year correlation. On 12-month performance ARKK holds a 12.6-point edge, +15.7% against +3.1%.
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 SDGR: side by side
| ARKK (ARK Innovation ETF) | SDGR (Schrodinger, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +3.1% |
| 5-year return | -27.7% | -65.2% |
| Volatility (ann.) | 38.8% | 57.7% |
| Beta vs S&P 500 | 2.07 | 1.91 |
| Max drawdown (3Y) | -39.6% | -70.2% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | SDGR |
|---|---|---|
| 2022 | -67.0% | -46.3% |
| 2023 | +69.0% | +91.5% |
| 2024 | +8.4% | -46.1% |
| 2025 | +35.5% | -7.3% |
| 2026 | +13.6% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and SDGR good diversifiers for each other?
Only partially. A correlation of 0.59 means ARKK and SDGR 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 SDGR?
The ARKK/SDGR correlation stands at 0.59 on a 3-year window (1 year: 0.72, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is SDGR a good diversifier for ARKK?
Only partially. A correlation of 0.59 means ARKK and SDGR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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.
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Related comparisons
Hubs: ARKK correlations · SDGR correlations
