LSAK vs SPY: Correlation
Lesaka Technologies, Inc. (LSAK) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LSAK and SPY?
Over the past 3 years, LSAK and SPY moved with a correlation of 0.09, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 42.0 %².
Among the 15 assets we track against LSAK, SPY ranks #6 by 3-year correlation. The last year tells two different stories: SPY led by 24.4 percentage points, -3.8% for LSAK against +20.6% for SPY. Note the risk asymmetry: LSAK runs 2.1 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.
LSAK vs SPY: side by side
| LSAK (Lesaka Technologies, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -3.8% | +20.6% |
| 5-year return | +6.3% | +82.4% |
| Volatility (ann.) | 31.0% | 14.5% |
| Beta vs S&P 500 | 0.20 | 1.00 |
| Max drawdown (3Y) | -33.2% | -18.8% |
| Market cap | $0.4B | – |
| 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 | LSAK | SPY |
|---|---|---|
| 2022 | -14.5% | -18.2% |
| 2023 | -28.8% | +26.2% |
| 2024 | +68.2% | +24.9% |
| 2025 | -12.5% | +17.7% |
| 2026 | -4.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LSAK and SPY good diversifiers for each other?
Yes. With a correlation of 0.09, LSAK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LSAK and SPY?
As of 2026-08-27, the correlation of weekly returns between LSAK and SPY is 0.09 over 3 years, 0.03 over 1 year and 0.23 over 5 years.
Is SPY a good diversifier for LSAK?
Yes. With a correlation of 0.09, LSAK and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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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Hubs: LSAK correlations · SPY correlations
