KNTK vs SPY: Correlation
Kinetik Holdings Inc. (KNTK) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNTK and SPY?
Over the past 3 years, KNTK and SPY moved with a correlation of 0.27, which is weak. The past 12 months show a weaker link (-0.02) than the 3-year average (0.27). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 130.7 %².
By 3-year correlation, SPY places #9 of the 14 assets tracked against KNTK. Correlation aside, the last 12 months split them widely, with KNTK ahead by 19.0 points (+39.6% versus +20.6%). Note the risk asymmetry: KNTK runs 2.3 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.
KNTK vs SPY: side by side
| KNTK (Kinetik Holdings Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +39.6% | +20.6% |
| 5-year return | +147.1% | +82.4% |
| Volatility (ann.) | 33.1% | 14.5% |
| Beta vs S&P 500 | 0.63 | 1.00 |
| Max drawdown (3Y) | -49.0% | -18.8% |
| Market cap | $9.2B | – |
| P/E (trailing) | 19.3 | – |
| Dividend yield | 5.83% | 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 | KNTK | SPY |
|---|---|---|
| 2022 | +14.6% | -18.2% |
| 2023 | +10.9% | +26.2% |
| 2024 | +83.1% | +24.9% |
| 2025 | -31.9% | +17.7% |
| 2026 | +59.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNTK 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 KNTK and SPY?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with -0.02 over the last year and 0.25 over 5 years.
Is SPY a good diversifier for KNTK?
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?
On the −1 to +1 scale, 0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: KNTK correlations · SPY correlations
