EQT vs GJT: Correlation
How closely do EQT Corporation (EQT) and Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and GJT?
On 3 years of weekly data the EQT/GJT correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.23). The 5-year figure is -0.08, and annualized covariance runs at -56.2 %².
GJT is close to the least connected end of EQT's tracked universe, ranking #28 of 31. Their 12-month results are close: +7.9% for EQT against +8.6% for GJT. Risk is not evenly split, since EQT carries 4.7 times the volatility of the other side.
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.
EQT vs GJT: side by side
| EQT (EQT Corporation) | GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | |
|---|---|---|
| 1-year return | +7.9% | +8.6% |
| 5-year return | +224.8% | +44.3% |
| Volatility (ann.) | 34.1% | 7.3% |
| Beta vs S&P 500 | 0.52 | -0.02 |
| Max drawdown (3Y) | -31.6% | -5.3% |
| Market cap | $34.3B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 1.19% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EQT | GJT |
|---|---|---|
| 2022 | +57.6% | +4.5% |
| 2023 | +16.2% | +13.6% |
| 2024 | +21.4% | +10.6% |
| 2025 | +17.6% | +6.2% |
| 2026 | +3.1% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and GJT good diversifiers for each other?
Yes. With a correlation of -0.23, EQT and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQT and GJT?
The EQT/GJT correlation stands at -0.23 on a 3-year window (1 year: -0.09, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is GJT a good diversifier for EQT?
Yes. With a correlation of -0.23, EQT and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/eqt-vs-gjt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqt-vs-gjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQT correlations · GJT correlations
