BKYI vs SPY: Correlation
BIO-key International, Inc. (BKYI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKYI and SPY?
Over the past 3 years, BKYI and SPY moved with a correlation of 0.15, which is weak. The link has loosened recently: the 1-year correlation (0.04) runs below the 3-year figure (0.15). Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 211.2 %².
Among the 10 assets we track against BKYI, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: SPY led by 79.3 percentage points, -58.7% for BKYI against +20.6% for SPY. One caveat on sizing: BKYI is 6.8 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.
BKYI vs SPY: side by side
| BKYI (BIO-key International, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -58.7% | +20.6% |
| 5-year return | -99.5% | +82.4% |
| Volatility (ann.) | 99.3% | 14.5% |
| Beta vs S&P 500 | 1.01 | 1.00 |
| Max drawdown (3Y) | -97.1% | -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 | BKYI | SPY |
|---|---|---|
| 2022 | -73.3% | -18.2% |
| 2023 | -71.8% | +26.2% |
| 2024 | -43.0% | +24.9% |
| 2025 | -68.4% | +17.7% |
| 2026 | -42.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKYI and SPY good diversifiers for each other?
Yes. With a correlation of 0.15, BKYI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKYI and SPY?
As of 2026-08-27, the correlation of weekly returns between BKYI and SPY is 0.15 over 3 years, 0.04 over 1 year and 0.15 over 5 years.
Is SPY a good diversifier for BKYI?
Yes. With a correlation of 0.15, BKYI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.15 mean?
A reading of 0.15 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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Hubs: BKYI correlations · SPY correlations
