CKX vs SPY: Correlation
Measured on weekly returns over the past three years, CKX Lands, Inc. (CKX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CKX and SPY?
Over the past 3 years, CKX and SPY moved with a correlation of 0.01, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.09 over 1 year against 0.01 over 3. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is 2.5 %².
Among the 14 assets we track against CKX, SPY ranks #7 by 3-year correlation. The last year tells two different stories: SPY led by 25.7 percentage points, -5.1% for CKX against +20.6% for SPY. Risk is not evenly split, since CKX carries 1.8 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.
CKX vs SPY: side by side
| CKX (CKX Lands, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -5.1% | +20.6% |
| 5-year return | -7.1% | +82.4% |
| Volatility (ann.) | 25.7% | 14.5% |
| Beta vs S&P 500 | 0.01 | 1.00 |
| Max drawdown (3Y) | -37.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 7.5 | – |
| 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 | CKX | SPY |
|---|---|---|
| 2022 | -11.2% | -18.2% |
| 2023 | +30.3% | +26.2% |
| 2024 | -2.8% | +24.9% |
| 2025 | -27.4% | +17.7% |
| 2026 | +16.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CKX and SPY good diversifiers for each other?
Yes. With a correlation of 0.01, CKX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CKX and SPY?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with -0.09 over the last year and 0.04 over 5 years.
Is SPY a good diversifier for CKX?
Yes. With a correlation of 0.01, CKX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ckx-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ckx-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CKX correlations · SPY correlations
