ARKK vs UPST: Correlation
Measured on weekly returns over the past three years, ARK Innovation ETF (ARKK) and Upstart Holdings, Inc. (UPST) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and UPST?
On 3 years of weekly data the ARKK/UPST correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 2261.2 %².
By 3-year correlation, UPST places #23 of the 122 assets tracked against ARKK. Their recent paths diverged sharply: over the last 12 months ARKK outperformed by 71.9 percentage points (+15.7% for ARKK against -56.2% for UPST). Note the risk asymmetry: UPST runs 2.3 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 UPST: side by side
| ARKK (ARK Innovation ETF) | UPST (Upstart Holdings, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -56.2% |
| 5-year return | -27.7% | -85.9% |
| Volatility (ann.) | 38.8% | 91.0% |
| Beta vs S&P 500 | 2.07 | 3.51 |
| Max drawdown (3Y) | -39.6% | -72.7% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 58.6 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | UPST |
|---|---|---|
| 2022 | -67.0% | -91.3% |
| 2023 | +69.0% | +209.1% |
| 2024 | +8.4% | +50.7% |
| 2025 | +35.5% | -29.0% |
| 2026 | +13.6% | -30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and UPST good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARKK and UPST?
As of 2026-08-27, the correlation of weekly returns between ARKK and UPST is 0.64 over 3 years, 0.67 over 1 year and 0.61 over 5 years.
Is UPST a good diversifier for ARKK?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 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-upst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arkk-vs-upst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARKK correlations · UPST correlations
