GRCE vs SPY: Correlation
Grace Therapeutics, Inc. (GRCE) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRCE and SPY?
Across a 3-year window, the weekly returns of GRCE and SPY correlate at 0.18, weak. The past 12 months show a weaker link (0.07) than the 3-year average (0.18). Stretching to 5 years gives 0.21, with an annualized covariance of 198.1 %².
Among the 10 assets we track against GRCE, SPY sits near the bottom by co-movement, at rank #7. The last year tells two different stories: SPY led by 50.2 percentage points, -29.6% for GRCE against +20.6% for SPY. One caveat on sizing: GRCE is 5.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GRCE vs SPY: side by side
| GRCE (Grace Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -29.6% | +20.6% |
| 5-year return | -88.8% | +82.4% |
| Volatility (ann.) | 78.2% | 14.5% |
| Beta vs S&P 500 | 0.95 | 1.00 |
| Max drawdown (3Y) | -60.0% | -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 | GRCE | SPY |
|---|---|---|
| 2022 | -60.3% | -18.2% |
| 2023 | -3.7% | +26.2% |
| 2024 | +29.4% | +24.9% |
| 2025 | -7.5% | +17.7% |
| 2026 | -37.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRCE and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between GRCE and SPY?
The GRCE/SPY correlation stands at 0.18 on a 3-year window (1 year: 0.07, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GRCE?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
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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Hubs: GRCE correlations · SPY correlations
