ARKR vs SPY: Correlation
How closely do Ark Restaurants Corp. (ARKR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKR and SPY?
On 3 years of weekly data the ARKR/SPY correlation comes out at 0.10, weak. Lately the two have moved closer together, with the 1-year correlation at 0.28 versus 0.10 over 3 years. The 5-year figure is 0.19, and annualized covariance runs at 70.8 %².
Out of 14 assets tracked against ARKR, SPY lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 43.4 percentage points (-22.8% for ARKR against +20.6% for SPY). Risk is not evenly split, since ARKR carries 3.5 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.
ARKR vs SPY: side by side
| ARKR (Ark Restaurants Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.8% | +20.6% |
| 5-year return | -64.1% | +82.4% |
| Volatility (ann.) | 50.4% | 14.5% |
| Beta vs S&P 500 | 0.34 | 1.00 |
| Max drawdown (3Y) | -70.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | ARKR | SPY |
|---|---|---|
| 2022 | +0.4% | -18.2% |
| 2023 | -11.5% | +26.2% |
| 2024 | -19.8% | +24.9% |
| 2025 | -39.0% | +17.7% |
| 2026 | -21.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKR and SPY good diversifiers for each other?
Yes. With a correlation of 0.10, ARKR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARKR and SPY?
As of 2026-08-27, the correlation of weekly returns between ARKR and SPY is 0.10 over 3 years, 0.28 over 1 year and 0.19 over 5 years.
Is SPY a good diversifier for ARKR?
Yes. With a correlation of 0.10, ARKR and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARKR correlations · SPY correlations
