FIP vs GJO: Correlation
Measured on weekly returns over the past three years, FTAI Infrastructure Inc. (FIP) and Synthetic Fixed-Income Securities, Inc. on behalf of (GJO) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIP and GJO?
Across a 3-year window, the weekly returns of FIP and GJO correlate at 0.23, weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. Stretching to 5 years gives 0.18, with an annualized covariance of 90.6 %².
GJO is close to the least connected end of FIP's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months GJO outperformed by 30.1 percentage points (-27.5% for FIP against +2.6% for GJO). One caveat on sizing: FIP is 8.2 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.
FIP vs GJO: side by side
| FIP (FTAI Infrastructure Inc.) | GJO (Synthetic Fixed-Income Securities, Inc. on behalf of) | |
|---|---|---|
| 1-year return | -27.5% | +2.6% |
| 5-year return | n/a | +27.3% |
| Volatility (ann.) | 56.6% | 6.9% |
| Beta vs S&P 500 | 1.48 | 0.02 |
| Max drawdown (3Y) | -68.0% | -3.2% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.22% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIP | GJO |
|---|---|---|
| 2022 | – | +1.6% |
| 2023 | +36.9% | +10.3% |
| 2024 | +89.5% | +5.2% |
| 2025 | -34.9% | +5.6% |
| 2026 | -19.2% | +1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIP and GJO good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FIP and GJO?
The FIP/GJO correlation stands at 0.23 on a 3-year window (1 year: 0.18, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is GJO a good diversifier for FIP?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
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Related comparisons
Hubs: FIP correlations · GJO correlations
