CARR vs GTX: Correlation
Carrier Global (CARR) and Garrett Motion Inc. (GTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARR and GTX?
Over the past 3 years, CARR and GTX moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 620.3 %².
Among the 29 assets we track against CARR, GTX ranks #18 by 3-year correlation. The last year tells two different stories: GTX led by 123.2 percentage points, -11.6% for CARR against +111.6% for GTX.
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.
CARR vs GTX: side by side
| CARR (Carrier Global) | GTX (Garrett Motion Inc.) | |
|---|---|---|
| 1-year return | -11.6% | +111.6% |
| 5-year return | +8.8% | +313.6% |
| Volatility (ann.) | 32.6% | 43.0% |
| Beta vs S&P 500 | 1.21 | 1.04 |
| Max drawdown (3Y) | -38.1% | -28.7% |
| Market cap | $48.5B | $5.1B |
| P/E (trailing) | 42.0 | 14.8 |
| Dividend yield | 1.61% | 1.11% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CARR | GTX |
|---|---|---|
| 2022 | -22.7% | -5.1% |
| 2023 | +41.5% | +26.9% |
| 2024 | +20.3% | -6.6% |
| 2025 | -21.8% | +97.2% |
| 2026 | +12.6% | +58.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARR and GTX good diversifiers for each other?
Reasonably. At 0.44, CARR and GTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CARR and GTX?
As of 2026-08-27, the correlation of weekly returns between CARR and GTX is 0.44 over 3 years, 0.42 over 1 year and 0.40 over 5 years.
Is GTX a good diversifier for CARR?
Reasonably. At 0.44, CARR and GTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/carr-vs-gtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/carr-vs-gtx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARR correlations · GTX correlations
