GYRE vs SPY: Correlation
Gyre Therapeutics, Inc. (GYRE) 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 GYRE and SPY?
Over the past 3 years, GYRE and SPY moved with a correlation of 0.24, which is weak. The link has tightened recently: the 1-year correlation (0.34) runs above the 3-year figure (0.24). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 329.6 %².
SPY is close to the least connected end of GYRE's tracked universe, ranking #7 of 11. The last year tells two different stories: SPY led by 38.2 percentage points, -17.6% for GYRE against +20.6% for SPY. Risk is not evenly split, since GYRE carries 6.5 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.
GYRE vs SPY: side by side
| GYRE (Gyre Therapeutics, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -17.6% | +20.6% |
| 5-year return | -38.8% | +82.4% |
| Volatility (ann.) | 93.7% | 14.5% |
| Beta vs S&P 500 | 1.58 | 1.00 |
| Max drawdown (3Y) | -81.3% | -18.8% |
| Market cap | $0.7B | – |
| 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 | GYRE | SPY |
|---|---|---|
| 2022 | +121.5% | -18.2% |
| 2023 | +422.0% | +26.2% |
| 2024 | -52.9% | +24.9% |
| 2025 | -41.7% | +17.7% |
| 2026 | -5.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GYRE and SPY good diversifiers for each other?
Reasonably. At 0.24, GYRE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GYRE and SPY?
The GYRE/SPY correlation stands at 0.24 on a 3-year window (1 year: 0.34, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for GYRE?
Reasonably. At 0.24, GYRE and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 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: GYRE correlations · SPY correlations
