GRI vs SPY: Correlation
GRI Bio, Inc. (GRI) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRI and SPY?
Across a 3-year window, the weekly returns of GRI and SPY correlate at 0.22, weak. Little has changed lately, as the 1-year reading of 0.12 lands near the 3-year figure. Stretching to 5 years gives 0.10, with an annualized covariance of 400.8 %².
Among the 10 assets we track against GRI, SPY sits near the bottom by co-movement, at rank #6. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 115.4 percentage points (-94.8% for GRI against +20.6% for SPY). One caveat on sizing: GRI is 8.7 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.
GRI vs SPY: side by side
| GRI (GRI Bio, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -94.8% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 125.8% | 14.5% |
| Beta vs S&P 500 | 1.92 | 1.00 |
| Max drawdown (3Y) | -100.0% | -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 | GRI | SPY |
|---|---|---|
| 2022 | -95.2% | -18.2% |
| 2023 | -95.6% | +26.2% |
| 2024 | -97.6% | +24.9% |
| 2025 | -98.2% | +17.7% |
| 2026 | -70.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRI and SPY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRI and SPY?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with 0.12 over the last year and 0.10 over 5 years.
Is SPY a good diversifier for GRI?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: GRI correlations · SPY correlations
