CASY vs SPKL: Correlation
Measured on weekly returns over the past three years, Casey's (CASY) and Spark I Acquisition Corp. - Class A (SPKL) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and SPKL?
Across a 3-year window, the weekly returns of CASY and SPKL correlate at 0.33, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.33). Stretching to 5 years gives n/a, with an annualized covariance of 112.6 %².
Among the 30 assets we track against CASY, SPKL ranks #10 by 3-year correlation. The last year tells two different stories: CASY led by 48.2 percentage points, +53.7% for CASY against +5.5% for SPKL. One caveat on sizing: CASY is 2.4 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.
CASY vs SPKL: side by side
| CASY (Casey's) | SPKL (Spark I Acquisition Corp. - Class A) | |
|---|---|---|
| 1-year return | +53.7% | +5.5% |
| 5-year return | +284.3% | n/a |
| Volatility (ann.) | 28.9% | 11.9% |
| Beta vs S&P 500 | 0.39 | 0.07 |
| Max drawdown (3Y) | -16.6% | -15.7% |
| Market cap | $28.2B | $0.1B |
| P/E (trailing) | 42.2 | – |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | SPKL |
|---|---|---|
| 2022 | +14.5% | – |
| 2023 | +23.3% | – |
| 2024 | +45.0% | +4.9% |
| 2025 | +40.1% | +7.4% |
| 2026 | +38.4% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and SPKL good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CASY and SPKL?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.45 over the last year and n/a over 5 years.
Is SPKL a good diversifier for CASY?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/casy-vs-spkl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/casy-vs-spkl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CASY correlations · SPKL correlations
