KROS vs SPY: Correlation
How closely do Keros Therapeutics, Inc. (KROS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KROS and SPY?
On 3 years of weekly data the KROS/SPY correlation comes out at 0.20, weak. Lately the two have moved closer together, with the 1-year correlation at 0.33 versus 0.20 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 205.5 %².
By 3-year correlation, SPY places #9 of the 17 assets tracked against KROS. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 48.2 percentage points (-27.6% for KROS against +20.6% for SPY). Note the risk asymmetry: KROS runs 4.8 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.
KROS vs SPY: side by side
| KROS (Keros Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -27.6% | +20.6% |
| 5-year return | -67.0% | +82.4% |
| Volatility (ann.) | 69.9% | 14.5% |
| Beta vs S&P 500 | 0.98 | 1.00 |
| Max drawdown (3Y) | -86.5% | -18.8% |
| Market cap | $0.2B | – |
| 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 | KROS | SPY |
|---|---|---|
| 2022 | -17.9% | -18.2% |
| 2023 | -17.2% | +26.2% |
| 2024 | -60.2% | +24.9% |
| 2025 | +28.6% | +17.7% |
| 2026 | -44.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KROS and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KROS and SPY?
The KROS/SPY correlation stands at 0.20 on a 3-year window (1 year: 0.33, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for KROS?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 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: KROS correlations · SPY correlations
