KTB vs SPY: Correlation
Kontoor Brands, Inc. (KTB) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KTB and SPY?
Over the past 3 years, KTB and SPY moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.34). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 218.5 %².
Among the 17 assets we track against KTB, SPY sits near the bottom by co-movement, at rank #13. The last year tells two different stories: SPY led by 19.7 percentage points, +0.9% for KTB against +20.6% for SPY. Note the risk asymmetry: KTB runs 3.1 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.
KTB vs SPY: side by side
| KTB (Kontoor Brands, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +0.9% | +20.6% |
| 5-year return | +65.6% | +82.4% |
| Volatility (ann.) | 44.3% | 14.5% |
| Beta vs S&P 500 | 1.05 | 1.00 |
| Max drawdown (3Y) | -44.9% | -18.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 2.73% | 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 | KTB | SPY |
|---|---|---|
| 2022 | -18.3% | -18.2% |
| 2023 | +62.6% | +26.2% |
| 2024 | +40.7% | +24.9% |
| 2025 | -26.3% | +17.7% |
| 2026 | +27.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KTB and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KTB and SPY?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.24 over the last year and 0.40 over 5 years.
Is SPY a good diversifier for KTB?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ktb-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ktb-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KTB correlations · SPY correlations
