KRRO vs SPY: Correlation
Measured on weekly returns over the past three years, Korro Bio, Inc. (KRRO) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KRRO and SPY?
Over the past 3 years, KRRO and SPY moved with a correlation of 0.28, which is weak. Recent behaviour matches the longer record: 0.27 over 1 year against 0.28 over 3. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 663.0 %².
Among the 16 assets we track against KRRO, SPY ranks #10 by 3-year correlation. The last year tells two different stories: SPY led by 59.2 percentage points, -38.6% for KRRO against +20.6% for SPY. Risk is not evenly split, since KRRO carries 11.5 times the volatility of the other side.
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.
KRRO vs SPY: side by side
| KRRO (Korro Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -38.6% | +20.6% |
| 5-year return | -96.6% | +82.4% |
| Volatility (ann.) | 166.3% | 14.5% |
| Beta vs S&P 500 | 3.17 | 1.00 |
| Max drawdown (3Y) | -94.1% | -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 | KRRO | SPY |
|---|---|---|
| 2022 | -25.0% | -18.2% |
| 2023 | -75.1% | +26.2% |
| 2024 | -20.6% | +24.9% |
| 2025 | -79.0% | +17.7% |
| 2026 | +65.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KRRO and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KRRO and SPY?
As of 2026-08-27, the correlation of weekly returns between KRRO and SPY is 0.28 over 3 years, 0.27 over 1 year and 0.23 over 5 years.
Is SPY a good diversifier for KRRO?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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: KRRO correlations · SPY correlations
