KVHI vs SPY: Correlation
How closely do KVH Industries, Inc. (KVHI) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KVHI and SPY?
Across a 3-year window, the weekly returns of KVHI and SPY correlate at 0.07, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.04) runs below the 3-year figure (0.07). Stretching to 5 years gives 0.16, with an annualized covariance of 40.9 %².
By 3-year correlation, SPY places #8 of the 19 assets tracked against KVHI. Correlation aside, the last 12 months split them widely, with KVHI ahead by 19.3 points (+39.9% versus +20.6%). One caveat on sizing: KVHI is 2.9 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.
KVHI vs SPY: side by side
| KVHI (KVH Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +39.9% | +20.6% |
| 5-year return | -25.9% | +82.4% |
| Volatility (ann.) | 41.7% | 14.5% |
| Beta vs S&P 500 | 0.20 | 1.00 |
| Max drawdown (3Y) | -35.9% | -18.8% |
| Market cap | $0.1B | – |
| 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 | KVHI | SPY |
|---|---|---|
| 2022 | +11.2% | -18.2% |
| 2023 | -48.5% | +26.2% |
| 2024 | +8.4% | +24.9% |
| 2025 | +22.3% | +17.7% |
| 2026 | +10.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KVHI and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between KVHI and SPY?
As of 2026-08-27, the correlation of weekly returns between KVHI and SPY is 0.07 over 3 years, -0.04 over 1 year and 0.16 over 5 years.
Is SPY a good diversifier for KVHI?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 mean?
On the −1 to +1 scale, 0.07 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.
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Related comparisons
Hubs: KVHI correlations · SPY correlations
