GNL vs GTY: Correlation
How closely do Global Net Lease, Inc. (GNL) and Getty Realty Corporation (GTY) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNL and GTY?
On 3 years of weekly data the GNL/GTY correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.62 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 338.8 %².
In GNL's tracked universe of 11 assets, GTY sits right near the top at #2. The trailing year gives GNL the advantage: +28.2% versus +23.2%, a 5.0-point spread. Risk is not evenly split, since GNL carries 1.5 times the volatility of the other side.
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.
GNL vs GTY: side by side
| GNL (Global Net Lease, Inc.) | GTY (Getty Realty Corporation) | |
|---|---|---|
| 1-year return | +28.2% | +23.2% |
| 5-year return | -2.7% | +40.7% |
| Volatility (ann.) | 29.0% | 18.8% |
| Beta vs S&P 500 | 0.50 | 0.13 |
| Max drawdown (3Y) | -35.6% | -17.9% |
| Market cap | $2.1B | $2.0B |
| P/E (trailing) | – | 20.2 |
| Dividend yield | 8.32% | 5.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNL | GTY |
|---|---|---|
| 2022 | -7.5% | +11.7% |
| 2023 | -9.0% | -8.8% |
| 2024 | -15.3% | +9.9% |
| 2025 | +32.4% | -2.9% |
| 2026 | +13.0% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNL and GTY good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GNL and GTY?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.41 over the last year and 0.65 over 5 years.
Is GTY a good diversifier for GNL?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/gnl-vs-gty.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnl-vs-gty/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GNL correlations · GTY correlations
