FRNM vs GPAT: Correlation
How closely do Freenome, Inc. (FRNM) and GP-Act III Acquisition Corp. - Class A (GPAT) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and GPAT?
Across a 3-year window, the weekly returns of FRNM and GPAT correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.32 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -21.7 %².
GPAT is close to the least connected end of FRNM's tracked universe, ranking #34 of 34. Their recent paths diverged sharply: over the last 12 months FRNM outperformed by 28.9 percentage points (+32.3% for FRNM against +3.4% for GPAT). One caveat on sizing: FRNM is 6.6 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.
FRNM vs GPAT: side by side
| FRNM (Freenome, Inc.) | GPAT (GP-Act III Acquisition Corp. - Class A) | |
|---|---|---|
| 1-year return | +32.3% | +3.4% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 21.1% | 3.2% |
| Beta vs S&P 500 | 0.03 | 0.05 |
| Max drawdown (3Y) | -29.6% | -2.1% |
| Market cap | $1.5B | $0.2B |
| P/E (trailing) | – | 44.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Are FRNM and GPAT good diversifiers for each other?
Yes. With a correlation of -0.32, FRNM and GPAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRNM and GPAT?
The FRNM/GPAT correlation stands at -0.32 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is GPAT a good diversifier for FRNM?
Yes. With a correlation of -0.32, FRNM and GPAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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/frnm-vs-gpat.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frnm-vs-gpat/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRNM correlations · GPAT correlations
