GPRO vs SPY: Correlation
GoPro, Inc. (GPRO) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPRO and SPY?
Across a 3-year window, the weekly returns of GPRO and SPY correlate at 0.42, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.42). Stretching to 5 years gives 0.42, with an annualized covariance of 593.1 %².
By 3-year correlation, SPY places #10 of the 15 assets tracked against GPRO. Correlation aside, the last 12 months split them widely, with SPY ahead by 85.0 points (-64.4% versus +20.6%). Risk is not evenly split, since GPRO carries 6.7 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.
GPRO vs SPY: side by side
| GPRO (GoPro, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -64.4% | +20.6% |
| 5-year return | -93.9% | +82.4% |
| Volatility (ann.) | 96.8% | 14.5% |
| Beta vs S&P 500 | 2.84 | 1.00 |
| Max drawdown (3Y) | -87.2% | -18.8% |
| Market cap | $0.1B | – |
| 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 | GPRO | SPY |
|---|---|---|
| 2022 | -51.7% | -18.2% |
| 2023 | -30.3% | +26.2% |
| 2024 | -68.6% | +24.9% |
| 2025 | +29.4% | +17.7% |
| 2026 | -57.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPRO and SPY good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GPRO and SPY?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.52 over the last year and 0.42 over 5 years.
Is SPY a good diversifier for GPRO?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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: GPRO correlations · SPY correlations
