SPY vs STKE: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Sol Strategies Inc. (STKE) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and STKE?
Over the past 3 years, SPY and STKE moved with a correlation of 0.26, which is weak. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 707.3 %².
By 3-year correlation, STKE places #2671 of the 4755 assets tracked against SPY. Correlation aside, the last 12 months split them widely, with SPY ahead by 102.6 points (+20.6% versus -82.0%). Note the risk asymmetry: STKE runs 13.0 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.
SPY vs STKE: side by side
| SPY (SPDR S&P 500 ETF Trust) | STKE (Sol Strategies Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -82.0% |
| 5-year return | +82.4% | +19.6% |
| Volatility (ann.) | 14.5% | 187.9% |
| Beta vs S&P 500 | 1.00 | 3.39 |
| Max drawdown (3Y) | -18.8% | -97.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | SPY | STKE |
|---|---|---|
| 2022 | -18.2% | -63.5% |
| 2023 | +26.2% | +62.0% |
| 2024 | +24.9% | +2467.9% |
| 2025 | +17.7% | -90.8% |
| 2026 | +13.7% | -12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and STKE good diversifiers for each other?
Reasonably. At 0.26, SPY and STKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and STKE?
As of 2026-08-27, the correlation of weekly returns between SPY and STKE is 0.26 over 3 years, 0.36 over 1 year and 0.18 over 5 years.
Is STKE a good diversifier for SPY?
Reasonably. At 0.26, SPY and STKE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 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: SPY correlations · STKE correlations
