GRWG vs SPY: Correlation
GrowGeneration Corp. (GRWG) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRWG and SPY?
On 3 years of weekly data the GRWG/SPY correlation comes out at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.34 over 3 years. The 5-year figure is 0.45, and annualized covariance runs at 392.3 %².
Out of 18 assets tracked against GRWG, SPY lands near the bottom at #14. The last year tells two different stories: SPY led by 21.8 percentage points, -1.2% for GRWG against +20.6% for SPY. Risk is not evenly split, since GRWG carries 5.5 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.
GRWG vs SPY: side by side
| GRWG (GrowGeneration Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -1.2% | +20.6% |
| 5-year return | -94.6% | +82.4% |
| Volatility (ann.) | 79.8% | 14.5% |
| Beta vs S&P 500 | 1.88 | 1.00 |
| Max drawdown (3Y) | -76.3% | -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 | GRWG | SPY |
|---|---|---|
| 2022 | -70.0% | -18.2% |
| 2023 | -36.0% | +26.2% |
| 2024 | -32.7% | +24.9% |
| 2025 | -11.2% | +17.7% |
| 2026 | +10.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRWG and SPY good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRWG and SPY?
The GRWG/SPY correlation stands at 0.34 on a 3-year window (1 year: 0.24, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GRWG?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 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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Related comparisons
Hubs: GRWG correlations · SPY correlations
