KFY vs SPY: Correlation
Measured on weekly returns over the past three years, Korn Ferry (KFY) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KFY and SPY?
Over the past 3 years, KFY and SPY moved with a correlation of 0.49, which is moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.49). Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 185.8 %².
Among the 22 assets we track against KFY, SPY ranks #16 by 3-year correlation. Their 12-month results are close: +16.2% for KFY against +20.6% for SPY. One caveat on sizing: KFY is 1.8 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.
KFY vs SPY: side by side
| KFY (Korn Ferry) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +16.2% | +20.6% |
| 5-year return | +30.5% | +82.4% |
| Volatility (ann.) | 26.3% | 14.5% |
| Beta vs S&P 500 | 0.89 | 1.00 |
| Max drawdown (3Y) | -24.1% | -18.8% |
| Market cap | $4.3B | – |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 2.37% | 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 | KFY | SPY |
|---|---|---|
| 2022 | -32.4% | -18.2% |
| 2023 | +19.1% | +26.2% |
| 2024 | +16.1% | +24.9% |
| 2025 | +0.6% | +17.7% |
| 2026 | +30.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KFY and SPY good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KFY and SPY?
As of 2026-08-27, the correlation of weekly returns between KFY and SPY is 0.49 over 3 years, 0.16 over 1 year and 0.57 over 5 years.
Is SPY a good diversifier for KFY?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kfy-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kfy-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KFY correlations · SPY correlations
