GPC vs SPY: Correlation
How closely do Genuine Parts Company (GPC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPC and SPY?
On 3 years of weekly data the GPC/SPY correlation comes out at 0.30, moderate. Recent behaviour matches the longer record: 0.20 over 1 year against 0.30 over 3. The 5-year figure is 0.41, and annualized covariance runs at 138.3 %².
By 3-year correlation, SPY places #24 of the 36 assets tracked against GPC. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 19.3 percentage points (+1.3% for GPC against +20.6% for SPY). Across three years, the rolling one-year figure varied moderately, from 0.16 to 0.59. Risk is not evenly split, since GPC carries 2.2 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.
GPC vs SPY: side by side
| GPC (Genuine Parts Company) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +1.3% | +20.6% |
| 5-year return | +27.6% | +82.4% |
| Volatility (ann.) | 31.9% | 14.5% |
| Beta vs S&P 500 | 0.66 | 1.00 |
| Max drawdown (3Y) | -39.7% | -18.8% |
| Market cap | $18.8B | – |
| P/E (trailing) | 546.8 | – |
| Dividend yield | 3.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Consumer Discretionary | 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 | GPC | SPY |
|---|---|---|
| 2022 | +26.8% | -18.2% |
| 2023 | -18.1% | +26.2% |
| 2024 | -13.2% | +24.9% |
| 2025 | +8.7% | +17.7% |
| 2026 | +13.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPC and SPY good diversifiers for each other?
Reasonably. At 0.30, GPC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GPC and SPY?
As of 2026-08-27, the correlation of weekly returns between GPC and SPY is 0.30 over 3 years, 0.20 over 1 year and 0.41 over 5 years.
Is SPY a good diversifier for GPC?
Reasonably. At 0.30, GPC and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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: GPC correlations · SPY correlations
