APA vs GTE: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Gran Tierra Energy Inc. (GTE) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and GTE?
Over the past 3 years, APA and GTE moved with a correlation of 0.60, which is strong. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 1526.1 %².
Within APA's tracked universe of 43 assets, GTE comes in at #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GTE outperformed by 48.9 percentage points (+94.1% for APA against +143.0% for GTE).
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.
APA vs GTE: side by side
| APA (APA Corporation) | GTE (Gran Tierra Energy Inc.) | |
|---|---|---|
| 1-year return | +94.1% | +143.0% |
| 5-year return | +164.2% | +90.8% |
| Volatility (ann.) | 41.8% | 60.6% |
| Beta vs S&P 500 | 0.38 | 0.32 |
| Max drawdown (3Y) | -67.4% | -66.9% |
| Market cap | $14.8B | $0.4B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | GTE |
|---|---|---|
| 2022 | +76.4% | +30.3% |
| 2023 | -21.2% | -43.0% |
| 2024 | -33.4% | +28.2% |
| 2025 | +11.5% | -41.4% |
| 2026 | +77.3% | +138.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and GTE good diversifiers for each other?
Only partially. A correlation of 0.60 means APA and GTE 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 APA and GTE?
The APA/GTE correlation stands at 0.60 on a 3-year window (1 year: 0.51, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is GTE a good diversifier for APA?
Only partially. A correlation of 0.60 means APA and GTE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-gte.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-gte/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · GTE correlations
