LINK vs SPY: Correlation
How closely do Interlink Electronics, Inc. (LINK) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LINK and SPY?
On 3 years of weekly data the LINK/SPY correlation comes out at 0.18, weak. Lately the two have moved closer together, with the 1-year correlation at 0.28 versus 0.18 over 3 years. The 5-year figure is 0.15, and annualized covariance runs at 211.1 %².
By 3-year correlation, SPY places #7 of the 13 assets tracked against LINK. The last year tells two different stories: SPY led by 22.1 percentage points, -1.5% for LINK against +20.6% for SPY. Risk is not evenly split, since LINK carries 5.6 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.
LINK vs SPY: side by side
| LINK (Interlink Electronics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.5% | +20.6% |
| 5-year return | +17.2% | +82.4% |
| Volatility (ann.) | 81.3% | 14.5% |
| Beta vs S&P 500 | 1.01 | 1.00 |
| Max drawdown (3Y) | -71.3% | -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 | LINK | SPY |
|---|---|---|
| 2022 | -15.7% | -18.2% |
| 2023 | +56.5% | +26.2% |
| 2024 | -26.8% | +24.9% |
| 2025 | -6.7% | +17.7% |
| 2026 | +34.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LINK and SPY good diversifiers for each other?
Yes. With a correlation of 0.18, LINK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LINK and SPY?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.28 over the last year and 0.15 over 5 years.
Is SPY a good diversifier for LINK?
Yes. With a correlation of 0.18, LINK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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: LINK correlations · SPY correlations
