GPAT vs MTRN: Correlation
Measured on weekly returns over the past three years, GP-Act III Acquisition Corp. - Class A (GPAT) and Materion Corporation (MTRN) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPAT and MTRN?
On 3 years of weekly data the GPAT/MTRN correlation comes out at 0.39, moderate. The link has tightened recently: the 1-year correlation (0.51) runs above the 3-year figure (0.39). The 5-year figure is n/a, and annualized covariance runs at 60.8 %².
Among the 22 assets we track against GPAT, MTRN ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTRN ahead by 120.2 points (+3.4% versus +123.6%). Note the risk asymmetry: MTRN runs 14.3 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.
GPAT vs MTRN: side by side
| GPAT (GP-Act III Acquisition Corp. - Class A) | MTRN (Materion Corporation) | |
|---|---|---|
| 1-year return | +3.4% | +123.6% |
| 5-year return | n/a | +248.3% |
| Volatility (ann.) | 3.2% | 45.7% |
| Beta vs S&P 500 | 0.05 | 1.51 |
| Max drawdown (3Y) | -2.1% | -47.8% |
| Market cap | $0.2B | $5.1B |
| P/E (trailing) | 44.6 | 54.9 |
| Dividend yield | 0.00% | 0.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPAT | MTRN |
|---|---|---|
| 2022 | – | -4.3% |
| 2023 | – | +49.4% |
| 2024 | – | -23.7% |
| 2025 | +5.4% | +26.4% |
| 2026 | +2.2% | +98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPAT and MTRN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GPAT and MTRN?
As of 2026-08-27, the correlation of weekly returns between GPAT and MTRN is 0.39 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is MTRN a good diversifier for GPAT?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/gpat-vs-mtrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gpat-vs-mtrn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GPAT correlations · MTRN correlations
