KXIN vs SPY: Correlation
Measured on weekly returns over the past three years, Kaixin Holdings (KXIN) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.14, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KXIN and SPY?
Across a 3-year window, the weekly returns of KXIN and SPY correlate at 0.14, weak. Recent behaviour matches the longer record: 0.07 over 1 year against 0.14 over 3. Stretching to 5 years gives 0.11, with an annualized covariance of 565.4 %².
Within KXIN's tracked universe of 15 assets, SPY comes in at #9 by 3-year correlation. The last year tells two different stories: SPY led by 120.1 percentage points, -99.5% for KXIN against +20.6% for SPY. One caveat on sizing: KXIN is 18.8 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.
KXIN vs SPY: side by side
| KXIN (Kaixin Holdings) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -99.5% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 272.9% | 14.5% |
| Beta vs S&P 500 | 2.71 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| 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 | KXIN | SPY |
|---|---|---|
| 2022 | -74.3% | -18.2% |
| 2023 | -80.0% | +26.2% |
| 2024 | -97.1% | +24.9% |
| 2025 | -88.6% | +17.7% |
| 2026 | -98.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KXIN and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
FAQ
What is the correlation between KXIN and SPY?
Using weekly returns as of 2026-08-27: 0.14 over 3 years, with 0.07 over the last year and 0.11 over 5 years.
Is SPY a good diversifier for KXIN?
By historical standards, yes. A correlation of 0.14 means the two rarely move for the same reasons.
What does a correlation of 0.14 mean?
On the −1 to +1 scale, 0.14 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: KXIN correlations · SPY correlations
