GRNQ vs SPY: Correlation
Greenpro Capital Corp. (GRNQ) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRNQ and SPY?
On 3 years of weekly data the GRNQ/SPY correlation comes out at -0.07, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.07). The 5-year figure is 0.02, and annualized covariance runs at -104.4 %².
Within GRNQ's tracked universe of 11 assets, SPY comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 30.0 points (-9.4% versus +20.6%). Risk is not evenly split, since GRNQ carries 6.8 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.
GRNQ vs SPY: side by side
| GRNQ (Greenpro Capital Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -9.4% | +20.6% |
| 5-year return | -86.5% | +82.4% |
| Volatility (ann.) | 98.3% | 14.5% |
| Beta vs S&P 500 | -0.50 | 1.00 |
| Max drawdown (3Y) | -96.4% | -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 | GRNQ | SPY |
|---|---|---|
| 2022 | -82.6% | -18.2% |
| 2023 | +9.3% | +26.2% |
| 2024 | -5.9% | +24.9% |
| 2025 | +66.7% | +17.7% |
| 2026 | -29.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRNQ and SPY good diversifiers for each other?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRNQ and SPY?
Using weekly returns as of 2026-08-27: -0.07 over 3 years, with -0.32 over the last year and 0.02 over 5 years.
Is SPY a good diversifier for GRNQ?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.07 mean?
A reading of -0.07 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: GRNQ correlations · SPY correlations
