ALTG vs GFF: Correlation
Alta Equipment Group Inc. (ALTG) and Griffon Corporation (GFF) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTG and GFF?
Over the past 3 years, ALTG and GFF moved with a correlation of 0.58, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1471.1 %².
GFF is one of the assets that tracks ALTG most closely: it ranks #3 out of the 12 assets we track against ALTG. The last year tells two different stories: GFF led by 54.3 percentage points, -25.9% for ALTG against +28.4% for GFF. One caveat on sizing: ALTG is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALTG vs GFF: side by side
| ALTG (Alta Equipment Group Inc.) | GFF (Griffon Corporation) | |
|---|---|---|
| 1-year return | -25.9% | +28.4% |
| 5-year return | -50.0% | +396.8% |
| Volatility (ann.) | 65.4% | 38.7% |
| Beta vs S&P 500 | 2.11 | 1.14 |
| Max drawdown (3Y) | -71.8% | -27.9% |
| Market cap | $0.2B | $4.5B |
| P/E (trailing) | – | 21.1 |
| Dividend yield | 0.00% | 0.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTG | GFF |
|---|---|---|
| 2022 | -9.1% | +36.9% |
| 2023 | -4.7% | +84.0% |
| 2024 | -45.5% | +18.0% |
| 2025 | -28.4% | +4.4% |
| 2026 | +34.3% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTG and GFF good diversifiers for each other?
Only partially. A correlation of 0.58 means ALTG and GFF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALTG and GFF?
The ALTG/GFF correlation stands at 0.58 on a 3-year window (1 year: 0.60, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is GFF a good diversifier for ALTG?
Only partially. A correlation of 0.58 means ALTG and GFF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/altg-vs-gff.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/altg-vs-gff/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALTG correlations · GFF correlations
