KC vs. SPY
KC (Kingsoft Cloud Holdings Limited) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, KC returned -19.43%/yr vs 12.81%/yr for SPY. At a 0.36 correlation, their price movements are largely independent.
Performance
KC vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, KC achieves a -2.90% return, which is significantly lower than SPY's 9.40% return.
KC
- 1D
- 5.24%
- 1M
- -0.20%
- 6M
- -15.63%
- YTD
- -2.90%
- 1Y
- -36.90%
- 3Y*
- 17.37%
- 5Y*
- -19.43%
- 10Y*
- —
- ALL TIME*
- -10.79%
SPY
- 1D
- -0.16%
- 1M
- -0.62%
- 6M
- 7.86%
- YTD
- 9.40%
- 1Y
- 19.56%
- 3Y*
- 19.43%
- 5Y*
- 12.81%
- 10Y*
- 14.90%
- ALL TIME*
- 10.78%
KC vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KC Kingsoft Cloud Holdings Limited | -2.90% | -1.43% | 177.51% | -1.31% | -75.68% | -63.83% | 113.79% |
SPY State Street SPDR S&P 500 ETF | 9.40% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 31.62% |
Correlation
The correlation between KC and SPY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 8, 2020 | 0.36 |
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Return for Risk
KC vs. SPY — Risk / Return Rank
KC
SPY
KC vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kingsoft Cloud Holdings Limited (KC) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KC | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.28 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 2.21 | -2.91 |
| Martin ratioReturn relative to average drawdown | -1.38 | 9.59 | -10.97 |
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Drawdowns
KC vs. SPY - Drawdown Comparison
The maximum KC drawdown since its inception was -97.36%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KC and SPY.
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Drawdown Indicators
| KC | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.36% | -55.19% | -42.17% |
Max Drawdown (1Y)Largest decline over 1 year | -52.88% | -8.88% | -44.00% |
Max Drawdown (3Y)Largest decline over 3 years | -70.77% | -18.76% | -52.01% |
Max Drawdown (5Y)Largest decline over 5 years | -94.57% | -24.50% | -70.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -86.07% | -2.05% | -84.02% |
Average DrawdownAverage peak-to-trough decline | -74.83% | -9.02% | -65.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.84% | 2.04% | +24.80% |
Volatility
KC vs. SPY - Volatility Comparison
Kingsoft Cloud Holdings Limited (KC) has a higher volatility of 19.71% compared to State Street SPDR S&P 500 ETF (SPY) at 3.45%. This indicates that KC's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KC | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.71% | 3.45% | +16.26% |
Volatility (6M)Calculated over the trailing 6-month period | 55.76% | 10.06% | +45.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.76% | 12.64% | +61.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.97% | 17.15% | +86.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.19% | 17.94% | +82.25% |
Dividends
KC vs. SPY - Dividend Comparison
KC has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KC Kingsoft Cloud Holdings Limited | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
KC and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KC has higher volatility (19.71%) compared to SPY (3.45%). In terms of maximum drawdown, KC dropped -97.36% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.56 vs -0.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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