GMEX vs SPY: Correlation
How closely do GMEX ROBOTICS CORPORATION - Class A (GMEX) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMEX and SPY?
Across a 3-year window, the weekly returns of GMEX and SPY correlate at 0.18, weak. Lately the two have moved closer together, with the 1-year correlation at 0.36 versus 0.18 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 508.1 %².
Within GMEX's tracked universe of 17 assets, SPY comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.6 percentage points (-100.0% for GMEX against +20.6% for SPY). Risk is not evenly split, since GMEX carries 13.5 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.
GMEX vs SPY: side by side
| GMEX (GMEX ROBOTICS CORPORATION - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -100.0% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 195.3% | 14.5% |
| Beta vs S&P 500 | 2.43 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 4710.28% | 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 | GMEX | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | +471.2% | +24.9% |
| 2025 | -99.6% | +17.7% |
| 2026 | -99.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMEX and SPY good diversifiers for each other?
Yes. With a correlation of 0.18, GMEX and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GMEX and SPY?
As of 2026-08-27, the correlation of weekly returns between GMEX and SPY is 0.18 over 3 years, 0.36 over 1 year and n/a over 5 years.
Is SPY a good diversifier for GMEX?
Yes. With a correlation of 0.18, GMEX 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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Related comparisons
Hubs: GMEX correlations · SPY correlations
