SKM vs SPY: Correlation
How closely do SK Telecom Co., Ltd. (SKM) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKM and SPY?
Across a 3-year window, the weekly returns of SKM and SPY correlate at 0.15, weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.15 over 3. Stretching to 5 years gives 0.22, with an annualized covariance of 67.5 %².
Within SKM's tracked universe of 26 assets, SPY comes in at #6 by 3-year correlation. The last year tells two different stories: SKM led by 59.5 percentage points, +80.1% for SKM against +20.6% for SPY. Risk is not evenly split, since SKM carries 2.2 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.
SKM vs SPY: side by side
| SKM (SK Telecom Co., Ltd.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +80.1% | +20.6% |
| 5-year return | +83.7% | +82.4% |
| Volatility (ann.) | 31.3% | 14.5% |
| Beta vs S&P 500 | 0.32 | 1.00 |
| Max drawdown (3Y) | -35.6% | -18.8% |
| Market cap | $15.2B | – |
| P/E (trailing) | 29.0 | – |
| Dividend yield | 4170.85% | 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 | SKM | SPY |
|---|---|---|
| 2022 | -17.8% | -18.2% |
| 2023 | +11.6% | +26.2% |
| 2024 | +2.9% | +24.9% |
| 2025 | +1.0% | +17.7% |
| 2026 | +92.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKM and SPY good diversifiers for each other?
Yes. With a correlation of 0.15, SKM and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SKM and SPY?
The SKM/SPY correlation stands at 0.15 on a 3-year window (1 year: 0.19, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SKM?
Yes. With a correlation of 0.15, SKM and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.15 mean?
A reading of 0.15 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: SKM correlations · SPY correlations
