ARKO vs SPY: Correlation
Measured on weekly returns over the past three years, ARKO Corp. (ARKO) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKO and SPY?
On 3 years of weekly data the ARKO/SPY correlation comes out at 0.29, weak. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.29 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 243.4 %².
SPY is close to the least connected end of ARKO's tracked universe, ranking #6 of 10. The last year tells two different stories: SPY led by 30.3 percentage points, -9.7% for ARKO against +20.6% for SPY. Risk is not evenly split, since ARKO carries 4.0 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.
ARKO vs SPY: side by side
| ARKO (ARKO Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.7% | +20.6% |
| 5-year return | -52.2% | +82.4% |
| Volatility (ann.) | 57.6% | 14.5% |
| Beta vs S&P 500 | 1.16 | 1.00 |
| Max drawdown (3Y) | -55.2% | -18.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 55.8 | – |
| Dividend yield | 2.57% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | 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 | ARKO | SPY |
|---|---|---|
| 2022 | -0.3% | -18.2% |
| 2023 | -3.3% | +26.2% |
| 2024 | -18.6% | +24.9% |
| 2025 | -29.3% | +17.7% |
| 2026 | -0.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKO and SPY good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARKO and SPY?
As of 2026-08-27, the correlation of weekly returns between ARKO and SPY is 0.29 over 3 years, 0.15 over 1 year and 0.31 over 5 years.
Is SPY a good diversifier for ARKO?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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: ARKO correlations · SPY correlations
