SKYA vs SPY: Correlation
Measured on weekly returns over the past three years, SkyAI, Inc. (SKYA) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKYA and SPY?
Across a 3-year window, the weekly returns of SKYA and SPY correlate at 0.12, weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.12 over 3. Stretching to 5 years gives 0.12, with an annualized covariance of 253.7 %².
Within SKYA's tracked universe of 13 assets, SPY comes in at #7 by 3-year correlation. The last year tells two different stories: SPY led by 110.7 percentage points, -90.1% for SKYA against +20.6% for SPY. Risk is not evenly split, since SKYA carries 10.0 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.
SKYA vs SPY: side by side
| SKYA (SkyAI, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -90.1% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 144.3% | 14.5% |
| Beta vs S&P 500 | 1.21 | 1.00 |
| Max drawdown (3Y) | -100.0% | -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 | SKYA | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -65.6% | +26.2% |
| 2024 | -77.5% | +24.9% |
| 2025 | -99.7% | +17.7% |
| 2026 | -27.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKYA and SPY good diversifiers for each other?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SKYA and SPY?
The SKYA/SPY correlation stands at 0.12 on a 3-year window (1 year: 0.19, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for SKYA?
Yes: at 0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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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Related comparisons
Hubs: SKYA correlations · SPY correlations
