GL vs GRN: Correlation
Measured on weekly returns over the past three years, Globe Life (GL) and iPath Series B Carbon Exchange-Traded Notes (GRN) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GL and GRN?
On 3 years of weekly data the GL/GRN correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.28). The 5-year figure is -0.06, and annualized covariance runs at -293.2 %².
Among the 30 assets we track against GL, GRN ranks #22 by 3-year correlation. Over the last 12 months GL came out ahead by 11.4 percentage points (+26.1% against +14.7%).
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.
GL vs GRN: side by side
| GL (Globe Life) | GRN (iPath Series B Carbon Exchange-Traded Notes) | |
|---|---|---|
| 1-year return | +26.1% | +14.7% |
| 5-year return | +91.0% | +36.8% |
| Volatility (ann.) | 35.7% | 29.5% |
| Beta vs S&P 500 | 0.60 | 0.40 |
| Max drawdown (3Y) | -61.6% | -40.7% |
| Market cap | $13.5B | – |
| P/E (trailing) | 11.7 | 3.5 |
| Dividend yield | 0.68% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GL | GRN |
|---|---|---|
| 2022 | +29.7% | -0.1% |
| 2023 | +1.8% | -3.0% |
| 2024 | -7.5% | -7.3% |
| 2025 | +26.5% | +20.3% |
| 2026 | +26.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GL and GRN good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GL and GRN?
The GL/GRN correlation stands at -0.28 on a 3-year window (1 year: -0.08, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is GRN a good diversifier for GL?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gl-vs-grn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gl-vs-grn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GL correlations · GRN correlations
