ATNI vs GTN: Correlation
ATN International, Inc. (ATNI) and Gray Media, Inc. (GTN) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATNI and GTN?
On 3 years of weekly data the ATNI/GTN correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 1722.0 %².
In ATNI's tracked universe of 11 assets, GTN sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months ATNI outperformed by 113.4 percentage points (+95.4% for ATNI against -18.0% for GTN).
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.
ATNI vs GTN: side by side
| ATNI (ATN International, Inc.) | GTN (Gray Media, Inc.) | |
|---|---|---|
| 1-year return | +95.4% | -18.0% |
| 5-year return | -22.3% | -73.2% |
| Volatility (ann.) | 58.6% | 68.6% |
| Beta vs S&P 500 | 0.57 | 0.76 |
| Max drawdown (3Y) | -62.6% | -68.1% |
| Market cap | $0.5B | $0.5B |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 3.64% | 6.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATNI | GTN |
|---|---|---|
| 2022 | +15.3% | -43.4% |
| 2023 | -11.9% | -16.7% |
| 2024 | -55.1% | -62.4% |
| 2025 | +43.8% | +64.6% |
| 2026 | +32.9% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATNI and GTN good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ATNI and GTN?
As of 2026-08-27, the correlation of weekly returns between ATNI and GTN is 0.43 over 3 years, 0.49 over 1 year and 0.34 over 5 years.
Is GTN a good diversifier for ATNI?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atni-vs-gtn.json
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Related comparisons
Hubs: ATNI correlations · GTN correlations
