GBR vs GTE: Correlation
Measured on weekly returns over the past three years, New Concept Energy, Inc (GBR) and Gran Tierra Energy Inc. (GTE) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBR and GTE?
On 3 years of weekly data the GBR/GTE correlation comes out at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 1560.2 %².
In GBR's tracked universe of 10 assets, GTE sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months GTE outperformed by 155.5 percentage points (-12.5% for GBR against +143.0% for GTE).
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.
GBR vs GTE: side by side
| GBR (New Concept Energy, Inc) | GTE (Gran Tierra Energy Inc.) | |
|---|---|---|
| 1-year return | -12.5% | +143.0% |
| 5-year return | -81.2% | +90.8% |
| Volatility (ann.) | 58.4% | 60.6% |
| Beta vs S&P 500 | 0.50 | 0.32 |
| Max drawdown (3Y) | -65.0% | -66.9% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBR | GTE |
|---|---|---|
| 2022 | -54.2% | +30.3% |
| 2023 | -8.3% | -43.0% |
| 2024 | +16.0% | +28.2% |
| 2025 | -35.3% | -41.4% |
| 2026 | +0.3% | +138.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBR and GTE good diversifiers for each other?
Reasonably. At 0.44, GBR and GTE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GBR and GTE?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.48 over the last year and 0.40 over 5 years.
Is GTE a good diversifier for GBR?
Reasonably. At 0.44, GBR and GTE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/gbr-vs-gte.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gbr-vs-gte/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBR correlations · GTE correlations
