GCTS vs SPY: Correlation
Measured on weekly returns over the past three years, GCT Semiconductor Holding, Inc. (GCTS) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCTS and SPY?
Across a 3-year window, the weekly returns of GCTS and SPY correlate at 0.18, weak. The past 12 months show a tighter link (0.34) than the 3-year average (0.18). Stretching to 5 years gives 0.12, with an annualized covariance of 418.0 %².
Among the 13 assets we track against GCTS, SPY sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months GCTS outperformed by 26.3 percentage points (+46.9% for GCTS against +20.6% for SPY). Risk is not evenly split, since GCTS carries 11.4 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.
GCTS vs SPY: side by side
| GCTS (GCT Semiconductor Holding, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +46.9% | +20.6% |
| 5-year return | -80.5% | +82.4% |
| Volatility (ann.) | 165.0% | 14.5% |
| Beta vs S&P 500 | 2.00 | 1.00 |
| Max drawdown (3Y) | -97.7% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
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 | GCTS | SPY |
|---|---|---|
| 2022 | +2.9% | -18.2% |
| 2023 | +3.6% | +26.2% |
| 2024 | -77.9% | +24.9% |
| 2025 | -48.5% | +17.7% |
| 2026 | +59.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCTS and SPY good diversifiers for each other?
Yes. With a correlation of 0.18, GCTS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GCTS and SPY?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.34 over the last year and 0.12 over 5 years.
Is SPY a good diversifier for GCTS?
Yes. With a correlation of 0.18, GCTS and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 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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Hubs: GCTS correlations · SPY correlations
