ARE vs GPAT: Correlation
Measured on weekly returns over the past three years, Alexandria Real Estate Equities (ARE) and GP-Act III Acquisition Corp. - Class A (GPAT) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and GPAT?
Over the past 3 years, ARE and GPAT moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.17 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -21.5 %².
Within ARE's tracked universe of 34 assets, GPAT comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GPAT ahead by 35.5 points (-32.1% versus +3.4%). One caveat on sizing: ARE is 12.0 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.
ARE vs GPAT: side by side
| ARE (Alexandria Real Estate Equities) | GPAT (GP-Act III Acquisition Corp. - Class A) | |
|---|---|---|
| 1-year return | -32.1% | +3.4% |
| 5-year return | -68.3% | n/a |
| Volatility (ann.) | 38.3% | 3.2% |
| Beta vs S&P 500 | 0.91 | 0.05 |
| Max drawdown (3Y) | -65.6% | -2.1% |
| Market cap | $9.0B | $0.2B |
| P/E (trailing) | – | 44.6 |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | GPAT |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | -9.1% | – |
| 2024 | -19.4% | – |
| 2025 | -46.6% | +5.4% |
| 2026 | +9.9% | +2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and GPAT good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARE and GPAT?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.22 over the last year and n/a over 5 years.
Is GPAT a good diversifier for ARE?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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/are-vs-gpat.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/are-vs-gpat/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARE correlations · GPAT correlations
