GCT vs PLUS: Correlation
How closely do GigaCloud Technology Inc - Class A (GCT) and ePlus inc. (PLUS) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCT and PLUS?
Over the past 3 years, GCT and PLUS moved with a correlation of 0.39, which is moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.39 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 1108.6 %².
Within GCT's tracked universe of 10 assets, PLUS comes in at #5 by 3-year correlation. The last year tells two different stories: GCT led by 72.9 percentage points, +95.2% for GCT against +22.3% for PLUS. Note the risk asymmetry: GCT runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GCT vs PLUS: side by side
| GCT (GigaCloud Technology Inc - Class A) | PLUS (ePlus inc.) | |
|---|---|---|
| 1-year return | +95.2% | +22.3% |
| 5-year return | n/a | +64.0% |
| Volatility (ann.) | 85.6% | 33.2% |
| Beta vs S&P 500 | 1.87 | 1.04 |
| Max drawdown (3Y) | -73.2% | -46.1% |
| Market cap | $1.8B | $2.3B |
| P/E (trailing) | 12.4 | 18.8 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCT | PLUS |
|---|---|---|
| 2022 | – | -17.8% |
| 2023 | +221.5% | +80.3% |
| 2024 | +1.2% | -7.5% |
| 2025 | +112.1% | +19.4% |
| 2026 | +31.3% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCT and PLUS good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GCT and PLUS?
As of 2026-08-27, the correlation of weekly returns between GCT and PLUS is 0.39 over 3 years, 0.33 over 1 year and 0.36 over 5 years.
Is PLUS a good diversifier for GCT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GCT correlations · PLUS correlations
