GDRX vs SPY: Correlation
Measured on weekly returns over the past three years, GoodRx Holdings, Inc. (GDRX) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDRX and SPY?
On 3 years of weekly data the GDRX/SPY correlation comes out at 0.26, weak. The link has tightened recently: the 1-year correlation (0.39) runs above the 3-year figure (0.26). The 5-year figure is 0.38, and annualized covariance runs at 237.5 %².
Among the 12 assets we track against GDRX, SPY ranks #7 by 3-year correlation. The last year tells two different stories: SPY led by 42.6 percentage points, -22.0% for GDRX against +20.6% for SPY. One caveat on sizing: GDRX is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GDRX vs SPY: side by side
| GDRX (GoodRx Holdings, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -22.0% | +20.6% |
| 5-year return | -90.5% | +82.4% |
| Volatility (ann.) | 62.1% | 14.5% |
| Beta vs S&P 500 | 1.14 | 1.00 |
| Max drawdown (3Y) | -79.3% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 58.5 | – |
| 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 | GDRX | SPY |
|---|---|---|
| 2022 | -85.7% | -18.2% |
| 2023 | +43.8% | +26.2% |
| 2024 | -30.6% | +24.9% |
| 2025 | -41.7% | +17.7% |
| 2026 | +29.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDRX and SPY good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GDRX and SPY?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.39 over the last year and 0.38 over 5 years.
Is SPY a good diversifier for GDRX?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GDRX correlations · SPY correlations
