GIPR vs SPY: Correlation
Measured on weekly returns over the past three years, Generation Income Properties Inc. (GIPR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIPR and SPY?
Across a 3-year window, the weekly returns of GIPR and SPY correlate at 0.19, weak. Lately the two have moved closer together, with the 1-year correlation at 0.32 versus 0.19 over 3 years. Stretching to 5 years gives 0.15, with an annualized covariance of 296.0 %².
Among the 13 assets we track against GIPR, SPY sits near the bottom by co-movement, at rank #9. The last year tells two different stories: SPY led by 115.8 percentage points, -95.2% for GIPR against +20.6% for SPY. Note the risk asymmetry: GIPR runs 7.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GIPR vs SPY: side by side
| GIPR (Generation Income Properties Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -95.2% | +20.6% |
| 5-year return | -99.3% | +82.4% |
| Volatility (ann.) | 110.2% | 14.5% |
| Beta vs S&P 500 | 1.42 | 1.00 |
| Max drawdown (3Y) | -99.4% | -18.8% |
| Market cap | – | – |
| 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 | GIPR | SPY |
|---|---|---|
| 2022 | -14.6% | -18.2% |
| 2023 | -9.2% | +26.2% |
| 2024 | -51.1% | +24.9% |
| 2025 | -64.8% | +17.7% |
| 2026 | -93.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIPR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between GIPR and SPY?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.32 over the last year and 0.15 over 5 years.
Is SPY a good diversifier for GIPR?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 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: GIPR correlations · SPY correlations
