KBSX vs SPY: Correlation
How closely do FST Corp. (KBSX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KBSX and SPY?
On 3 years of weekly data the KBSX/SPY correlation comes out at 0.16, weak. The past 12 months show a weaker link (-0.01) than the 3-year average (0.16). The 5-year figure is 0.11, and annualized covariance runs at 198.4 %².
Among the 16 assets we track against KBSX, SPY ranks #6 by 3-year correlation. The last year tells two different stories: SPY led by 60.1 percentage points, -39.5% for KBSX against +20.6% for SPY. Note the risk asymmetry: KBSX runs 6.1 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.
KBSX vs SPY: side by side
| KBSX (FST Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -39.5% | +20.6% |
| 5-year return | -89.8% | +82.4% |
| Volatility (ann.) | 88.4% | 14.5% |
| Beta vs S&P 500 | 0.95 | 1.00 |
| Max drawdown (3Y) | -94.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 8.4 | – |
| 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 | KBSX | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +7.3% | +26.2% |
| 2024 | -12.7% | +24.9% |
| 2025 | -85.5% | +17.7% |
| 2026 | -27.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KBSX and SPY 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 KBSX and SPY?
As of 2026-08-27, the correlation of weekly returns between KBSX and SPY is 0.16 over 3 years, -0.01 over 1 year and 0.11 over 5 years.
Is SPY a good diversifier for KBSX?
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?
A reading of 0.16 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: KBSX correlations · SPY correlations
