CTOS vs GJT: Correlation
Measured on weekly returns over the past three years, Custom Truck One Source, Inc. (CTOS) and Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTOS and GJT?
Across a 3-year window, the weekly returns of CTOS and GJT correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.11) than the 3-year average (-0.22). Stretching to 5 years gives -0.13, with an annualized covariance of -86.6 %².
Out of 13 assets tracked against CTOS, GJT lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with CTOS ahead by 52.7 points (+61.3% versus +8.6%). One caveat on sizing: CTOS is 7.5 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.
CTOS vs GJT: side by side
| CTOS (Custom Truck One Source, Inc.) | GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | |
|---|---|---|
| 1-year return | +61.3% | +8.6% |
| 5-year return | +8.1% | +44.3% |
| Volatility (ann.) | 54.4% | 7.3% |
| Beta vs S&P 500 | 1.42 | -0.02 |
| Max drawdown (3Y) | -55.6% | -5.3% |
| Market cap | $2.2B | – |
| P/E (trailing) | 107.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTOS | GJT |
|---|---|---|
| 2022 | -21.0% | +4.5% |
| 2023 | -2.2% | +13.6% |
| 2024 | -22.2% | +10.6% |
| 2025 | +19.8% | +6.2% |
| 2026 | +67.7% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTOS and GJT good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTOS and GJT?
The CTOS/GJT correlation stands at -0.22 on a 3-year window (1 year: 0.11, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is GJT a good diversifier for CTOS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/ctos-vs-gjt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctos-vs-gjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTOS correlations · GJT correlations
