ALTG vs TREX: Correlation
Measured on weekly returns over the past three years, Alta Equipment Group Inc. (ALTG) and Trex Company, Inc. (TREX) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTG and TREX?
Over the past 3 years, ALTG and TREX moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1815.5 %².
Few assets follow ALTG as closely as TREX, which ranks #1 of 12 tracked partners. Twelve-month performance is nearly a tie, at -25.9% for ALTG and -27.3% for TREX.
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 TREX: side by side
| ALTG (Alta Equipment Group Inc.) | TREX (Trex Company, Inc.) | |
|---|---|---|
| 1-year return | -25.9% | -27.3% |
| 5-year return | -50.0% | -58.7% |
| Volatility (ann.) | 65.4% | 45.3% |
| Beta vs S&P 500 | 2.11 | 1.48 |
| Max drawdown (3Y) | -71.8% | -69.9% |
| Market cap | $0.2B | $4.7B |
| P/E (trailing) | – | 27.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTG | TREX |
|---|---|---|
| 2022 | -9.1% | -68.7% |
| 2023 | -4.7% | +95.6% |
| 2024 | -45.5% | -16.6% |
| 2025 | -28.4% | -49.2% |
| 2026 | +34.3% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTG and TREX good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ALTG and TREX?
The ALTG/TREX correlation stands at 0.61 on a 3-year window (1 year: 0.57, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is TREX a good diversifier for ALTG?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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-trex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/altg-vs-trex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALTG correlations · TREX correlations
