SDA vs SPKL: Correlation
SunCar Technology Group Inc. (SDA) and Spark I Acquisition Corp. - Class A (SPKL) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SDA and SPKL?
Across a 3-year window, the weekly returns of SDA and SPKL correlate at -0.33, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.33). Stretching to 5 years gives n/a, with an annualized covariance of -323.6 %².
Among the 14 assets we track against SDA, SPKL sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with SPKL ahead by 76.2 points (-70.7% versus +5.5%). One caveat on sizing: SDA is 7.1 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.
SDA vs SPKL: side by side
| SDA (SunCar Technology Group Inc.) | SPKL (Spark I Acquisition Corp. - Class A) | |
|---|---|---|
| 1-year return | -70.7% | +5.5% |
| 5-year return | -92.6% | n/a |
| Volatility (ann.) | 84.1% | 11.9% |
| Beta vs S&P 500 | 0.35 | 0.07 |
| Max drawdown (3Y) | -95.7% | -15.7% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SDA | SPKL |
|---|---|---|
| 2022 | +4.3% | – |
| 2023 | -20.3% | – |
| 2024 | +17.0% | +4.9% |
| 2025 | -79.1% | +7.4% |
| 2026 | -63.9% | +1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SDA and SPKL good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SDA and SPKL?
As of 2026-08-27, the correlation of weekly returns between SDA and SPKL is -0.33 over 3 years, -0.44 over 1 year and n/a over 5 years.
Is SPKL a good diversifier for SDA?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
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: SDA correlations · SPKL correlations
