GURE vs SPY: Correlation
How closely do Gulf Resources, Inc. (GURE) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of -0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GURE and SPY?
Over the past 3 years, GURE and SPY moved with a correlation of -0.03, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. Over 5 years the correlation is 0.03, and the annualized covariance of weekly returns is -63.4 %².
By 3-year correlation, SPY places #8 of the 23 assets tracked against GURE. The last year tells two different stories: SPY led by 73.1 percentage points, -52.5% for GURE against +20.6% for SPY. Risk is not evenly split, since GURE carries 9.5 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.
GURE vs SPY: side by side
| GURE (Gulf Resources, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -52.5% | +20.6% |
| 5-year return | -92.1% | +82.4% |
| Volatility (ann.) | 137.7% | 14.5% |
| Beta vs S&P 500 | -0.30 | 1.00 |
| Max drawdown (3Y) | -88.1% | -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 | GURE | SPY |
|---|---|---|
| 2022 | -28.6% | -18.2% |
| 2023 | -46.6% | +26.2% |
| 2024 | -65.5% | +24.9% |
| 2025 | -35.1% | +17.7% |
| 2026 | -7.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GURE and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between GURE and SPY?
The GURE/SPY correlation stands at -0.03 on a 3-year window (1 year: 0.05, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GURE?
By historical standards, yes. A correlation of -0.03 means the two rarely move for the same reasons.
What does a correlation of -0.03 mean?
A reading of -0.03 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: GURE correlations · SPY correlations
