ARQ vs SPY: Correlation
Arq, Inc. (ARQ) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARQ and SPY?
Across a 3-year window, the weekly returns of ARQ and SPY correlate at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 387.2 %².
By 3-year correlation, SPY places #10 of the 15 assets tracked against ARQ. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 91.7 percentage points (-71.1% for ARQ against +20.6% for SPY). One caveat on sizing: ARQ is 5.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ARQ vs SPY: side by side
| ARQ (Arq, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -71.1% | +20.6% |
| 5-year return | -67.7% | +82.4% |
| Volatility (ann.) | 78.9% | 14.5% |
| Beta vs S&P 500 | 1.85 | 1.00 |
| Max drawdown (3Y) | -79.6% | -18.8% |
| Market cap | $0.1B | – |
| 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 | ARQ | SPY |
|---|---|---|
| 2022 | -63.3% | -18.2% |
| 2023 | +22.6% | +26.2% |
| 2024 | +154.0% | +24.9% |
| 2025 | -56.8% | +17.7% |
| 2026 | -32.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARQ and SPY good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARQ and SPY?
The ARQ/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.29, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for ARQ?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 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: ARQ correlations · SPY correlations
