OKTA vs SPY: Correlation
How closely do Okta, Inc. (OKTA) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKTA and SPY?
Across a 3-year window, the weekly returns of OKTA and SPY correlate at 0.33, moderate. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 258.4 %².
Among the 12 assets we track against OKTA, SPY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: OKTA led by 65.3 percentage points, +85.9% for OKTA against +20.6% for SPY. Risk is not evenly split, since OKTA carries 3.8 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.
OKTA vs SPY: side by side
| OKTA (Okta, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +85.9% | +20.6% |
| 5-year return | -34.7% | +82.4% |
| Volatility (ann.) | 54.5% | 14.5% |
| Beta vs S&P 500 | 1.24 | 1.00 |
| Max drawdown (3Y) | -50.6% | -18.8% |
| Market cap | $30.2B | – |
| P/E (trailing) | 97.1 | – |
| 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 | OKTA | SPY |
|---|---|---|
| 2022 | -69.5% | -18.2% |
| 2023 | +32.5% | +26.2% |
| 2024 | -13.0% | +24.9% |
| 2025 | +9.7% | +17.7% |
| 2026 | +100.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKTA and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OKTA and SPY?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.24 over the last year and 0.44 over 5 years.
Is SPY a good diversifier for OKTA?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: OKTA correlations · SPY correlations
