GP vs KEQU: Correlation
Measured on weekly returns over the past three years, GreenPower Motor Company Inc. (GP) and Kewaunee Scientific Corporation (KEQU) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GP and KEQU?
Across a 3-year window, the weekly returns of GP and KEQU correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -1389.8 %².
KEQU is close to the least connected end of GP's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months KEQU outperformed by 29.3 percentage points (-61.3% for GP against -32.0% for KEQU). Note the risk asymmetry: GP runs 1.7 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.
GP vs KEQU: side by side
| GP (GreenPower Motor Company Inc.) | KEQU (Kewaunee Scientific Corporation) | |
|---|---|---|
| 1-year return | -61.3% | -32.0% |
| 5-year return | -99.0% | +186.6% |
| Volatility (ann.) | 104.8% | 61.0% |
| Beta vs S&P 500 | 1.76 | 0.69 |
| Max drawdown (3Y) | -98.0% | -55.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 11.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GP | KEQU |
|---|---|---|
| 2022 | -81.8% | +25.6% |
| 2023 | +80.9% | +82.3% |
| 2024 | -75.4% | +112.8% |
| 2025 | -89.9% | -39.5% |
| 2026 | +71.8% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GP and KEQU good diversifiers for each other?
Yes. With a correlation of -0.22, GP and KEQU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GP and KEQU?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.23 over the last year and -0.17 over 5 years.
Is KEQU a good diversifier for GP?
Yes. With a correlation of -0.22, GP and KEQU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/gp-vs-kequ.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gp-vs-kequ/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GP correlations · KEQU correlations
