GLPI vs SPY: Correlation
Gaming and Leisure Properties, Inc. (GLPI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLPI and SPY?
On 3 years of weekly data the GLPI/SPY correlation comes out at 0.25, weak. Lately the two have drifted apart, with the 1-year correlation at 0.13 versus 0.25 over 3 years. The 5-year figure is 0.44, and annualized covariance runs at 61.3 %².
Among the 12 assets we track against GLPI, SPY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: SPY led by 26.1 percentage points, -5.5% for GLPI against +20.6% for SPY.
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.
GLPI vs SPY: side by side
| GLPI (Gaming and Leisure Properties, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -5.5% | +20.6% |
| 5-year return | +19.9% | +82.4% |
| Volatility (ann.) | 17.1% | 14.5% |
| Beta vs S&P 500 | 0.29 | 1.00 |
| Max drawdown (3Y) | -14.9% | -18.8% |
| Market cap | $12.7B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 7.42% | 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 | GLPI | SPY |
|---|---|---|
| 2022 | +13.5% | -18.2% |
| 2023 | +0.9% | +26.2% |
| 2024 | +3.9% | +24.9% |
| 2025 | -0.8% | +17.7% |
| 2026 | -2.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLPI and SPY good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GLPI and SPY?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.13 over the last year and 0.44 over 5 years.
Is SPY a good diversifier for GLPI?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 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: GLPI correlations · SPY correlations
