spearman's rho

Hello I am working with a non random sample of mainly ordinal data and am using Spearman's rho to look at the relationships between variables.

I know that the Pearson product-moment correlation coefficient can be square to give you the co-efficient of determination and hence the proportion of the variance (fluctuation) of one variable that is predictable from the other variable. What I am wondering is can Spearman's rho be squared in the same way? In other words is Spearman's rho, when squared, also able to show the proportion of variance that is explained by that variable? For instance if Spearman's rho was .5 can you therefore say that gender for instance explains 25% of the variance in marital satisfaction. Or is Spearman's rho only used to show the strength /magnitude of a relationship?

I would greatly appreciate any help with this as I have consulted numerous statistics books and have not found an easily understandable answer.