HKIT vs SPY: Correlation
How closely do Hitek Global Inc. - Class A (HKIT) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HKIT and SPY?
Across a 3-year window, the weekly returns of HKIT and SPY correlate at 0.11, weak. Little has changed lately, as the 1-year reading of 0.10 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 355.8 %².
Within HKIT's tracked universe of 14 assets, SPY comes in at #9 by 3-year correlation. The last year tells two different stories: SPY led by 120.5 percentage points, -99.9% for HKIT against +20.6% for SPY. One caveat on sizing: HKIT is 16.1 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.
HKIT vs SPY: side by side
| HKIT (Hitek Global Inc. - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -99.9% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 233.1% | 14.5% |
| Beta vs S&P 500 | 1.70 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | – |
| 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 | HKIT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +36.2% | +24.9% |
| 2025 | +55.9% | +17.7% |
| 2026 | -100.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HKIT and SPY good diversifiers for each other?
Yes. With a correlation of 0.11, HKIT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HKIT and SPY?
The HKIT/SPY correlation stands at 0.11 on a 3-year window (1 year: 0.10, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for HKIT?
Yes. With a correlation of 0.11, HKIT and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 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.
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Hubs: HKIT correlations · SPY correlations
