The answers so far have been excellent. Perhaps it is interesting to add singular values to the discussion.
Every square matrix $A \in \mathbb C^{n \times n}$ can be written as $A = U \Sigma V$, where $U, V \in \mathbb C^{n \times n}$ are unitary, and where $\Sigma \in \mathbb C^{n \times n}$ is a diagonal matrix with real entries. Without loss of generality, we let those be $\sigma_n(A), \dots, \sigma_1(A)$ in descending order.
The spectral norm of $A$ is precisely the largest singular value of $A$. So $\| A \|_2 = \sigma_n(A)$.
This means, of course, that $\rho(A) \leq \sigma_n(A)$.
This is an equality for an important example of matrices, namely the symmetric matrices. In that case, the singular value decomposition is just the spectral decomposition.
The (non-zero) nilpotent matrices are perhaps the worst example: their spectral radius is zero, whereas their largest singular value can be very large.