KOS vs SPY: Correlation
Kosmos Energy Ltd. (KOS) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOS and SPY?
Across a 3-year window, the weekly returns of KOS and SPY correlate at 0.13, weak. The link has loosened recently: the 1-year correlation (-0.16) runs below the 3-year figure (0.13). Stretching to 5 years gives 0.20, with an annualized covariance of 124.0 %².
By 3-year correlation, SPY places #8 of the 13 assets tracked against KOS. Their recent paths diverged sharply: over the last 12 months KOS outperformed by 36.2 percentage points (+56.8% for KOS against +20.6% for SPY). One caveat on sizing: KOS is 4.7 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.
KOS vs SPY: side by side
| KOS (Kosmos Energy Ltd.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +56.8% | +20.6% |
| 5-year return | +24.8% | +82.4% |
| Volatility (ann.) | 67.5% | 14.5% |
| Beta vs S&P 500 | 0.59 | 1.00 |
| Max drawdown (3Y) | -89.4% | -18.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| 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 | KOS | SPY |
|---|---|---|
| 2022 | +83.8% | -18.2% |
| 2023 | +5.5% | +26.2% |
| 2024 | -49.0% | +24.9% |
| 2025 | -73.4% | +17.7% |
| 2026 | +215.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOS and SPY good diversifiers for each other?
Yes. With a correlation of 0.13, KOS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KOS and SPY?
The KOS/SPY correlation stands at 0.13 on a 3-year window (1 year: -0.16, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for KOS?
Yes. With a correlation of 0.13, KOS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
A reading of 0.13 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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Related comparisons
Hubs: KOS correlations · SPY correlations
