GEHC vs TCRT: Correlation
How closely do GE HealthCare (GEHC) and Alaunos Therapeutics, Inc. (TCRT) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and TCRT?
Across a 3-year window, the weekly returns of GEHC and TCRT correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.27). Stretching to 5 years gives -0.17, with an annualized covariance of -1060.1 %².
TCRT is close to the least connected end of GEHC's tracked universe, ranking #49 of 52. On 12-month performance GEHC holds a 10.0-point edge, -2.2% against -12.2%. Note the risk asymmetry: TCRT runs 3.8 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.
GEHC vs TCRT: side by side
| GEHC (GE HealthCare) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -2.2% | -12.2% |
| 5-year return | n/a | -99.3% |
| Volatility (ann.) | 32.4% | 121.9% |
| Beta vs S&P 500 | 1.22 | -1.11 |
| Max drawdown (3Y) | -37.4% | -95.0% |
| Market cap | $32.7B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | GEHC | TCRT |
|---|---|---|
| 2022 | – | -40.4% |
| 2023 | +32.6% | -89.2% |
| 2024 | +1.3% | -81.8% |
| 2025 | +5.1% | +69.1% |
| 2026 | -11.5% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and TCRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between GEHC and TCRT?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.13 over the last year and -0.17 over 5 years.
Is TCRT a good diversifier for GEHC?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/gehc-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gehc-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · TCRT correlations
