ARKK vs SPY: Correlation
How closely do ARK Innovation ETF (ARKK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and SPY?
Across a 3-year window, the weekly returns of ARKK and SPY correlate at 0.77, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 433.5 %².
Within ARKK's tracked universe of 122 assets, SPY comes in at #7 by 3-year correlation. Twelve-month performance is nearly a tie, at +15.7% for ARKK and +20.6% for SPY. The rolling one-year correlation stayed in a tight band between 0.67 and 0.87 over the past three years, which points to a structural rather than episodic relationship. Risk is not evenly split, since ARKK carries 2.7 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 SPY: side by side
| ARKK (ARK Innovation ETF) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.7% | +20.6% |
| 5-year return | -27.7% | +82.4% |
| Volatility (ann.) | 38.8% | 14.5% |
| Beta vs S&P 500 | 2.07 | 1.00 |
| Max drawdown (3Y) | -39.6% | -18.8% |
| Dividend yield | – | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | ETF · Thematic | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ARKK | SPY |
|---|---|---|
| 2022 | -67.0% | -18.2% |
| 2023 | +69.0% | +26.2% |
| 2024 | +8.4% | +24.9% |
| 2025 | +35.5% | +17.7% |
| 2026 | +13.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and SPY good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARKK and SPY?
As of 2026-08-27, the correlation of weekly returns between ARKK and SPY is 0.77 over 3 years, 0.71 over 1 year and 0.77 over 5 years.
Is SPY a good diversifier for ARKK?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 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.
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Related comparisons
Hubs: ARKK correlations · SPY correlations
