GP vs GTEC: Correlation
Measured on weekly returns over the past three years, GreenPower Motor Company Inc. (GP) and Greenland Technologies Holding Corporation - Class A (GTEC) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GP and GTEC?
On 3 years of weekly data the GP/GTEC correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 3578.8 %².
GTEC is one of the assets that tracks GP most closely: it ranks #3 out of the 12 assets we track against GP. Their recent paths diverged sharply: over the last 12 months GTEC outperformed by 20.5 percentage points (-61.3% for GP against -40.8% for GTEC).
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.
GP vs GTEC: side by side
| GP (GreenPower Motor Company Inc.) | GTEC (Greenland Technologies Holding Corporation - Class A) | |
|---|---|---|
| 1-year return | -61.3% | -40.8% |
| 5-year return | -99.0% | -87.4% |
| Volatility (ann.) | 104.8% | 94.1% |
| Beta vs S&P 500 | 1.76 | 1.39 |
| Max drawdown (3Y) | -98.0% | -89.7% |
| Market cap | – | – |
| P/E (trailing) | – | 1.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GP | GTEC |
|---|---|---|
| 2022 | -81.8% | -66.1% |
| 2023 | +80.9% | +28.0% |
| 2024 | -75.4% | -30.5% |
| 2025 | -89.9% | -68.4% |
| 2026 | +71.8% | +37.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GP and GTEC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GP and GTEC?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.38 over the last year and 0.29 over 5 years.
Is GTEC a good diversifier for GP?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/gp-vs-gtec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gp-vs-gtec/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GP correlations · GTEC correlations
