CPT vs GFL: Correlation
Measured on weekly returns over the past three years, Camden Property Trust (CPT) and GFL Environmental Inc. Subordinate voting shares, no par (GFL) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and GFL?
Across a 3-year window, the weekly returns of CPT and GFL correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 237.2 %².
By 3-year correlation, GFL places #20 of the 33 assets tracked against CPT. The last year tells two different stories: CPT led by 16.9 percentage points, -0.4% for CPT against -17.3% for GFL.
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.
CPT vs GFL: side by side
| CPT (Camden Property Trust) | GFL (GFL Environmental Inc. Subordinate voting shares, no par) | |
|---|---|---|
| 1-year return | -0.4% | -17.3% |
| 5-year return | -15.4% | +17.2% |
| Volatility (ann.) | 21.3% | 27.9% |
| Beta vs S&P 500 | 0.55 | 0.47 |
| Max drawdown (3Y) | -21.7% | -34.9% |
| Market cap | $12.2B | $14.8B |
| P/E (trailing) | 35.5 | – |
| Dividend yield | 3.92% | 0.20% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CPT | GFL |
|---|---|---|
| 2022 | -35.6% | -22.6% |
| 2023 | -7.6% | +18.2% |
| 2024 | +21.3% | +29.3% |
| 2025 | -1.5% | -3.5% |
| 2026 | -2.0% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPT and GFL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CPT and GFL?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.31 over the last year and 0.43 over 5 years.
Is GFL a good diversifier for CPT?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/cpt-vs-gfl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpt-vs-gfl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPT correlations · GFL correlations
