GTIM vs SPY: Correlation
Good Times Restaurants Inc. (GTIM) and SPDR S&P 500 ETF Trust (SPY) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTIM and SPY?
Across a 3-year window, the weekly returns of GTIM and SPY correlate at 0.24, weak. Recent behaviour matches the longer record: 0.18 over 1 year against 0.24 over 3. Stretching to 5 years gives 0.25, with an annualized covariance of 143.3 %².
SPY is close to the least connected end of GTIM's tracked universe, ranking #7 of 11. Correlation aside, the last 12 months split them widely, with SPY ahead by 32.9 points (-12.3% versus +20.6%). Note the risk asymmetry: GTIM runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GTIM vs SPY: side by side
| GTIM (Good Times Restaurants Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -12.3% | +20.6% |
| 5-year return | -71.4% | +82.4% |
| Volatility (ann.) | 41.7% | 14.5% |
| Beta vs S&P 500 | 0.69 | 1.00 |
| Max drawdown (3Y) | -65.3% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 7.1 | – |
| 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 | GTIM | SPY |
|---|---|---|
| 2022 | -48.4% | -18.2% |
| 2023 | +13.4% | +26.2% |
| 2024 | +2.0% | +24.9% |
| 2025 | -53.3% | +17.7% |
| 2026 | +24.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTIM and SPY good diversifiers for each other?
Reasonably. At 0.24, GTIM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GTIM and SPY?
As of 2026-08-27, the correlation of weekly returns between GTIM and SPY is 0.24 over 3 years, 0.18 over 1 year and 0.25 over 5 years.
Is SPY a good diversifier for GTIM?
Reasonably. At 0.24, GTIM and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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: GTIM correlations · SPY correlations
