EQIX vs SPKL: Correlation
How closely do Equinix (EQIX) and Spark I Acquisition Corp. - Class A (SPKL) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and SPKL?
Over the past 3 years, EQIX and SPKL moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.28) runs below the 3-year figure (-0.16). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -46.3 %².
Among the 30 assets we track against EQIX, SPKL ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EQIX ahead by 33.6 points (+39.1% versus +5.5%). Risk is not evenly split, since EQIX carries 2.1 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.
EQIX vs SPKL: side by side
| EQIX (Equinix) | SPKL (Spark I Acquisition Corp. - Class A) | |
|---|---|---|
| 1-year return | +39.1% | +5.5% |
| 5-year return | +41.6% | n/a |
| Volatility (ann.) | 24.4% | 11.9% |
| Beta vs S&P 500 | 0.63 | 0.07 |
| Max drawdown (3Y) | -24.6% | -15.7% |
| Market cap | $106.2B | $0.1B |
| P/E (trailing) | 69.4 | – |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EQIX | SPKL |
|---|---|---|
| 2022 | -21.1% | – |
| 2023 | +25.4% | – |
| 2024 | +19.5% | +4.9% |
| 2025 | -16.9% | +7.4% |
| 2026 | +42.6% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and SPKL good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQIX and SPKL?
The EQIX/SPKL correlation stands at -0.16 on a 3-year window (1 year: -0.28, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPKL a good diversifier for EQIX?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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: EQIX correlations · SPKL correlations
