EDTK vs SPY: Correlation
Measured on weekly returns over the past three years, Skillful Craftsman Education Technology Limited (EDTK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDTK and SPY?
Over the past 3 years, EDTK and SPY moved with a correlation of -0.03, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.02 lands near the 3-year figure. Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -18.6 %².
Within EDTK's tracked universe of 16 assets, SPY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 38.8 points (-18.2% versus +20.6%). Note the risk asymmetry: EDTK runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EDTK vs SPY: side by side
| EDTK (Skillful Craftsman Education Technology Limited) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -18.2% | +20.6% |
| 5-year return | -41.9% | +82.4% |
| Volatility (ann.) | 45.4% | 14.5% |
| Beta vs S&P 500 | -0.09 | 1.00 |
| Max drawdown (3Y) | -35.4% | -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 | EDTK | SPY |
|---|---|---|
| 2022 | +52.4% | -18.2% |
| 2023 | -12.5% | +26.2% |
| 2024 | -19.8% | +24.9% |
| 2025 | -10.9% | +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 EDTK and SPY good diversifiers for each other?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EDTK and SPY?
Using weekly returns as of 2026-08-27: -0.03 over 3 years, with 0.02 over the last year and -0.03 over 5 years.
Is SPY a good diversifier for EDTK?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.03 mean?
On the −1 to +1 scale, -0.03 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.
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Related comparisons
Hubs: EDTK correlations · SPY correlations
