GAB vs RJET: Correlation
Measured on weekly returns over the past three years, Gabelli Equity Trust, Inc. (The) (GAB) and Republic Airways Holdings Inc. (RJET) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAB and RJET?
Across a 3-year window, the weekly returns of GAB and RJET correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 545.8 %².
RJET is close to the least connected end of GAB's tracked universe, ranking #12 of 16. The trailing year gives GAB the advantage: +5.8% versus +0.5%, a 5.3-point spread. Risk is not evenly split, since RJET carries 5.5 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.
GAB vs RJET: side by side
| GAB (Gabelli Equity Trust, Inc. (The)) | RJET (Republic Airways Holdings Inc.) | |
|---|---|---|
| 1-year return | +5.8% | +0.5% |
| 5-year return | +40.3% | -84.5% |
| Volatility (ann.) | 16.2% | 89.1% |
| Beta vs S&P 500 | 0.72 | 1.76 |
| Max drawdown (3Y) | -14.8% | -70.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | 5.8 | 12.2 |
| Dividend yield | 10.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GAB | RJET |
|---|---|---|
| 2022 | -16.3% | -72.7% |
| 2023 | +3.4% | -34.0% |
| 2024 | +18.0% | +14.9% |
| 2025 | +27.0% | +5.6% |
| 2026 | -1.4% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAB and RJET good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GAB and RJET?
The GAB/RJET correlation stands at 0.38 on a 3-year window (1 year: 0.32, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is RJET a good diversifier for GAB?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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/gab-vs-rjet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gab-vs-rjet/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GAB correlations · RJET correlations
