KRG vs SPY: Correlation
Measured on weekly returns over the past three years, Kite Realty Group Trust (KRG) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KRG and SPY?
Over the past 3 years, KRG and SPY moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.09) than the 3-year average (0.39). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 121.3 %².
Out of 21 assets tracked against KRG, SPY lands near the bottom at #17. Twelve-month performance is nearly a tie, at +20.7% for KRG and +20.6% for SPY.
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.
KRG vs SPY: side by side
| KRG (Kite Realty Group Trust) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.7% | +20.6% |
| 5-year return | +61.5% | +82.4% |
| Volatility (ann.) | 21.6% | 14.5% |
| Beta vs S&P 500 | 0.58 | 1.00 |
| Max drawdown (3Y) | -29.1% | -18.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 4.34% | 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 | KRG | SPY |
|---|---|---|
| 2022 | +0.8% | -18.2% |
| 2023 | +13.6% | +26.2% |
| 2024 | +15.5% | +24.9% |
| 2025 | -0.2% | +17.7% |
| 2026 | +12.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KRG and SPY good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KRG and SPY?
The KRG/SPY correlation stands at 0.39 on a 3-year window (1 year: 0.09, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for KRG?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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: KRG correlations · SPY correlations
