EXE vs GJT: Correlation
Measured on weekly returns over the past three years, Expand Energy (EXE) and Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXE and GJT?
Across a 3-year window, the weekly returns of EXE and GJT correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.23 over 3 years. Stretching to 5 years gives -0.12, with an annualized covariance of -46.5 %².
Among the 32 assets we track against EXE, GJT ranks #27 by 3-year correlation. Their 12-month results are close: +5.2% for EXE against +8.6% for GJT. One caveat on sizing: EXE is 3.9 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.
EXE vs GJT: side by side
| EXE (Expand Energy) | GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | |
|---|---|---|
| 1-year return | +5.2% | +8.6% |
| 5-year return | +125.8% | +44.3% |
| Volatility (ann.) | 28.2% | 7.3% |
| Beta vs S&P 500 | 0.31 | -0.02 |
| Max drawdown (3Y) | -28.4% | -5.3% |
| Market cap | $22.7B | – |
| P/E (trailing) | 8.3 | – |
| Dividend yield | 3.30% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EXE | GJT |
|---|---|---|
| 2022 | +62.3% | +4.5% |
| 2023 | -14.8% | +13.6% |
| 2024 | +33.2% | +10.6% |
| 2025 | +14.4% | +6.2% |
| 2026 | -9.6% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXE and GJT good diversifiers for each other?
Yes. With a correlation of -0.23, EXE and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXE and GJT?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.05 over the last year and -0.12 over 5 years.
Is GJT a good diversifier for EXE?
Yes. With a correlation of -0.23, EXE and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/exe-vs-gjt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exe-vs-gjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXE correlations · GJT correlations
