SPY vs WKSP: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Worksport, Ltd. (WKSP) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WKSP?
Across a 3-year window, the weekly returns of SPY and WKSP correlate at 0.24, weak. The relationship has been stable: the 1-year correlation (0.17) sits close to the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 375.5 %².
Within SPY's tracked universe of 4755 assets, WKSP comes in at #2896 by 3-year correlation. The last year tells two different stories: SPY led by 100.1 percentage points, +20.6% for SPY against -79.5% for WKSP. Note the risk asymmetry: WKSP runs 7.5 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 WKSP: side by side
| SPY (SPDR S&P 500 ETF Trust) | WKSP (Worksport, Ltd.) | |
|---|---|---|
| 1-year return | +20.6% | -79.5% |
| 5-year return | +82.4% | -98.8% |
| Volatility (ann.) | 14.5% | 108.8% |
| Beta vs S&P 500 | 1.00 | 1.80 |
| Max drawdown (3Y) | -18.8% | -98.4% |
| Market cap | – | – |
| 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, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | WKSP |
|---|---|---|
| 2022 | -18.2% | -58.9% |
| 2023 | +26.2% | +49.7% |
| 2024 | +24.9% | -38.3% |
| 2025 | +17.7% | -76.8% |
| 2026 | +13.7% | -70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WKSP good diversifiers for each other?
Reasonably. At 0.24, SPY and WKSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPY and WKSP?
As of 2026-08-27, the correlation of weekly returns between SPY and WKSP is 0.24 over 3 years, 0.17 over 1 year and 0.25 over 5 years.
Is WKSP a good diversifier for SPY?
Reasonably. At 0.24, SPY and WKSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wksp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/spy-vs-wksp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · WKSP correlations
