FOA vs GJT: Correlation
Finance of America Companies Inc. (FOA) and Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOA and GJT?
Over the past 3 years, FOA and GJT moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (-0.19). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -105.1 %².
Out of 10 assets tracked against FOA, GJT lands near the bottom at #9. The last year tells two different stories: GJT led by 39.0 percentage points, -30.4% for FOA against +8.6% for GJT. Risk is not evenly split, since FOA carries 10.5 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.
FOA vs GJT: side by side
| FOA (Finance of America Companies Inc.) | GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | |
|---|---|---|
| 1-year return | -30.4% | +8.6% |
| 5-year return | -65.5% | +44.3% |
| Volatility (ann.) | 76.9% | 7.3% |
| Beta vs S&P 500 | 0.77 | -0.02 |
| Max drawdown (3Y) | -71.7% | -5.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOA | GJT |
|---|---|---|
| 2022 | -68.0% | +4.5% |
| 2023 | -13.4% | +13.6% |
| 2024 | +155.6% | +10.6% |
| 2025 | -13.9% | +6.2% |
| 2026 | -24.2% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOA and GJT good diversifiers for each other?
Yes. With a correlation of -0.19, FOA and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOA and GJT?
The FOA/GJT correlation stands at -0.19 on a 3-year window (1 year: 0.12, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is GJT a good diversifier for FOA?
Yes. With a correlation of -0.19, FOA and GJT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/foa-vs-gjt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/foa-vs-gjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FOA correlations · GJT correlations
