FTK vs SPY: Correlation
Measured on weekly returns over the past three years, Flotek Industries, Inc. (FTK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTK and SPY?
Over the past 3 years, FTK and SPY moved with a correlation of 0.27, which is weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.27 over 3. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 336.5 %².
By 3-year correlation, SPY places #7 of the 12 assets tracked against FTK. Correlation aside, the last 12 months split them widely, with FTK ahead by 79.6 points (+100.2% versus +20.6%). One caveat on sizing: FTK is 5.8 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.
FTK vs SPY: side by side
| FTK (Flotek Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +100.2% | +20.6% |
| 5-year return | +196.8% | +82.4% |
| Volatility (ann.) | 84.8% | 14.5% |
| Beta vs S&P 500 | 1.61 | 1.00 |
| Max drawdown (3Y) | -49.6% | -18.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 24.2 | – |
| 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 | FTK | SPY |
|---|---|---|
| 2022 | -0.9% | -18.2% |
| 2023 | -41.7% | +26.2% |
| 2024 | +143.1% | +24.9% |
| 2025 | +80.8% | +17.7% |
| 2026 | +41.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTK and SPY good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTK and SPY?
The FTK/SPY correlation stands at 0.27 on a 3-year window (1 year: 0.21, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for FTK?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ftk-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftk-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTK correlations · SPY correlations
