SPY vs ZKIN: Correlation
SPDR S&P 500 ETF Trust (SPY) and ZK International Group Co., Ltd (ZKIN) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and ZKIN?
On 3 years of weekly data the SPY/ZKIN correlation comes out at -0.05, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.16) than the 3-year average (-0.05). The 5-year figure is 0.01, and annualized covariance runs at -214.7 %².
By 3-year correlation, ZKIN places #4693 of the 4755 assets tracked against SPY. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 62.2 percentage points (+20.6% for SPY against -41.6% for ZKIN). Risk is not evenly split, since ZKIN carries 20.4 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.
SPY vs ZKIN: side by side
| SPY (SPDR S&P 500 ETF Trust) | ZKIN (ZK International Group Co., Ltd) | |
|---|---|---|
| 1-year return | +20.6% | -41.6% |
| 5-year return | +82.4% | -68.9% |
| Volatility (ann.) | 14.5% | 296.5% |
| Beta vs S&P 500 | 1.00 | -1.03 |
| Max drawdown (3Y) | -18.8% | -74.7% |
| 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 | ZKIN |
|---|---|---|
| 2022 | -18.2% | -70.6% |
| 2023 | +26.2% | +140.2% |
| 2024 | +24.9% | -38.8% |
| 2025 | +17.7% | +150.0% |
| 2026 | +13.7% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and ZKIN good diversifiers for each other?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPY and ZKIN?
Using weekly returns as of 2026-08-27: -0.05 over 3 years, with -0.16 over the last year and 0.01 over 5 years.
Is ZKIN a good diversifier for SPY?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.05 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-zkin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spy-vs-zkin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPY correlations · ZKIN correlations
