KGEI vs SPY: Correlation
Kolibri Global Energy Inc. (KGEI) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGEI and SPY?
Across a 3-year window, the weekly returns of KGEI and SPY correlate at 0.04, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.29) than the 3-year average (0.04). Stretching to 5 years gives 0.14, with an annualized covariance of 27.1 %².
Within KGEI's tracked universe of 27 assets, SPY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 15.0 percentage points (+5.6% for KGEI against +20.6% for SPY). Note the risk asymmetry: KGEI runs 3.5 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.
KGEI vs SPY: side by side
| KGEI (Kolibri Global Energy Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +5.6% | +20.6% |
| 5-year return | +631.2% | +82.4% |
| Volatility (ann.) | 51.1% | 14.5% |
| Beta vs S&P 500 | 0.13 | 1.00 |
| Max drawdown (3Y) | -64.7% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 10.6 | – |
| 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 | KGEI | SPY |
|---|---|---|
| 2022 | +391.7% | -18.2% |
| 2023 | +27.1% | +26.2% |
| 2024 | +41.9% | +24.9% |
| 2025 | -26.1% | +17.7% |
| 2026 | +48.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGEI and SPY good diversifiers for each other?
Yes. With a correlation of 0.04, KGEI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KGEI and SPY?
The KGEI/SPY correlation stands at 0.04 on a 3-year window (1 year: -0.29, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for KGEI?
Yes. With a correlation of 0.04, KGEI and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
A reading of 0.04 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: KGEI correlations · SPY correlations
