BKT vs SPY: Correlation
How closely do BlackRock Income Trust Inc. (The) (BKT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKT and SPY?
Across a 3-year window, the weekly returns of BKT and SPY correlate at 0.28, weak. The past 12 months show a tighter link (0.40) than the 3-year average (0.28). Stretching to 5 years gives 0.39, with an annualized covariance of 39.8 %².
SPY is close to the least connected end of BKT's tracked universe, ranking #12 of 16. Correlation aside, the last 12 months split them widely, with SPY ahead by 23.9 points (-3.3% versus +20.6%).
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.
BKT vs SPY: side by side
| BKT (BlackRock Income Trust Inc. (The)) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -3.3% | +20.6% |
| 5-year return | -16.5% | +82.4% |
| Volatility (ann.) | 9.7% | 14.5% |
| Beta vs S&P 500 | 0.19 | 1.00 |
| Max drawdown (3Y) | -10.4% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 10.17% | 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 | BKT | SPY |
|---|---|---|
| 2022 | -21.6% | -18.2% |
| 2023 | +7.6% | +26.2% |
| 2024 | +3.2% | +24.9% |
| 2025 | +5.0% | +17.7% |
| 2026 | +0.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKT and SPY good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BKT and SPY?
As of 2026-08-27, the correlation of weekly returns between BKT and SPY is 0.28 over 3 years, 0.40 over 1 year and 0.39 over 5 years.
Is SPY a good diversifier for BKT?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkt-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bkt-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKT correlations · SPY correlations
