GBX vs TEX: Correlation
Measured on weekly returns over the past three years, Greenbrier Companies, Inc. (The) (GBX) and Terex Corporation (TEX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBX and TEX?
Across a 3-year window, the weekly returns of GBX and TEX correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 812.6 %².
In GBX's tracked universe of 11 assets, TEX sits right near the top at #3. Correlation aside, the last 12 months split them widely, with TEX ahead by 23.7 points (+0.5% versus +24.2%).
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.
GBX vs TEX: side by side
| GBX (Greenbrier Companies, Inc. (The)) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | +0.5% | +24.2% |
| 5-year return | +19.2% | +31.7% |
| Volatility (ann.) | 36.2% | 41.0% |
| Beta vs S&P 500 | 0.71 | 1.38 |
| Max drawdown (3Y) | -43.7% | -51.3% |
| Market cap | $1.4B | $7.4B |
| P/E (trailing) | 13.6 | 31.2 |
| Dividend yield | 2.81% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBX | TEX |
|---|---|---|
| 2022 | -24.8% | -1.4% |
| 2023 | +36.3% | +36.1% |
| 2024 | +41.3% | -18.6% |
| 2025 | -21.3% | +17.3% |
| 2026 | +0.7% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBX and TEX good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GBX and TEX?
The GBX/TEX correlation stands at 0.55 on a 3-year window (1 year: 0.61, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is TEX a good diversifier for GBX?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 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/gbx-vs-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gbx-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GBX correlations · TEX correlations
