GJT vs TENX: Correlation
How closely do Synthetic Fixed-Income Securities, Inc. Floating Rate (GJT) and Tenax Therapeutics, Inc. (TENX) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJT and TENX?
Across a 3-year window, the weekly returns of GJT and TENX correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.07) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.17, with an annualized covariance of -242.7 %².
TENX is close to the least connected end of GJT's tracked universe, ranking #18 of 20. Correlation aside, the last 12 months split them widely, with GJT ahead by 71.6 points (+8.6% versus -63.0%). One caveat on sizing: TENX is 17.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GJT vs TENX: side by side
| GJT (Synthetic Fixed-Income Securities, Inc. Floating Rate) | TENX (Tenax Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +8.6% | -63.0% |
| 5-year return | +44.3% | -99.9% |
| Volatility (ann.) | 7.3% | 127.0% |
| Beta vs S&P 500 | -0.02 | 0.95 |
| Max drawdown (3Y) | -5.3% | -97.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJT | TENX |
|---|---|---|
| 2022 | +4.5% | -89.3% |
| 2023 | +13.6% | -87.6% |
| 2024 | +10.6% | -71.9% |
| 2025 | +6.2% | +96.9% |
| 2026 | +3.5% | -82.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJT and TENX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between GJT and TENX?
As of 2026-08-27, the correlation of weekly returns between GJT and TENX is -0.26 over 3 years, 0.07 over 1 year and -0.17 over 5 years.
Is TENX a good diversifier for GJT?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gjt-vs-tenx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gjt-vs-tenx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GJT correlations · TENX correlations
