SPY vs WKC: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and World Kinect Corporation (WKC) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WKC?
Across a 3-year window, the weekly returns of SPY and WKC correlate at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.02 versus 0.36 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 162.9 %².
Within SPY's tracked universe of 4755 assets, WKC comes in at #1603 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WKC outperformed by 15.9 percentage points (+20.6% for SPY against +36.5% for WKC). Note the risk asymmetry: WKC runs 2.1 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 WKC: side by side
| SPY (SPDR S&P 500 ETF Trust) | WKC (World Kinect Corporation) | |
|---|---|---|
| 1-year return | +20.6% | +36.5% |
| 5-year return | +82.4% | +26.9% |
| Volatility (ann.) | 14.5% | 31.0% |
| Beta vs S&P 500 | 1.00 | 0.78 |
| Max drawdown (3Y) | -18.8% | -25.4% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | – |
| Dividend yield | 1.01% | 2.30% |
| 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 | WKC |
|---|---|---|
| 2022 | -18.2% | +5.3% |
| 2023 | +26.2% | -14.6% |
| 2024 | +24.9% | +23.8% |
| 2025 | +17.7% | -12.3% |
| 2026 | +13.7% | +55.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WKC good diversifiers for each other?
Reasonably. At 0.36, SPY and WKC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and WKC?
The SPY/WKC correlation stands at 0.36 on a 3-year window (1 year: -0.02, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is WKC a good diversifier for SPY?
Reasonably. At 0.36, SPY and WKC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wkc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-wkc/)
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Related comparisons
Hubs: SPY correlations · WKC correlations
