GENC vs SPY: Correlation
Gencor Industries, Inc. (GENC) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GENC and SPY?
Across a 3-year window, the weekly returns of GENC and SPY correlate at 0.33, moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.33). Stretching to 5 years gives 0.27, with an annualized covariance of 173.7 %².
Among the 11 assets we track against GENC, SPY sits near the bottom by co-movement, at rank #7. Neither side won the trailing year by much: +15.9% against +20.6%. Risk is not evenly split, since GENC carries 2.5 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.
GENC vs SPY: side by side
| GENC (Gencor Industries, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +15.9% | +20.6% |
| 5-year return | +63.6% | +82.4% |
| Volatility (ann.) | 36.4% | 14.5% |
| Beta vs S&P 500 | 0.83 | 1.00 |
| Max drawdown (3Y) | -55.7% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 18.7 | – |
| 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 | GENC | SPY |
|---|---|---|
| 2022 | -12.4% | -18.2% |
| 2023 | +59.8% | +26.2% |
| 2024 | +9.4% | +24.9% |
| 2025 | -26.6% | +17.7% |
| 2026 | +47.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GENC and SPY good diversifiers for each other?
Reasonably. At 0.33, GENC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GENC and SPY?
The GENC/SPY correlation stands at 0.33 on a 3-year window (1 year: 0.06, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GENC?
Reasonably. At 0.33, GENC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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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Related comparisons
Hubs: GENC correlations · SPY correlations
