GPAT vs TBI: Correlation
How closely do GP-Act III Acquisition Corp. - Class A (GPAT) and TrueBlue, Inc. (TBI) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPAT and TBI?
Across a 3-year window, the weekly returns of GPAT and TBI correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 90.8 %².
Among the 22 assets we track against GPAT, TBI ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TBI ahead by 72.2 points (+3.4% versus +75.6%). Note the risk asymmetry: TBI runs 20.4 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 TBI: side by side
| GPAT (GP-Act III Acquisition Corp. - Class A) | TBI (TrueBlue, Inc.) | |
|---|---|---|
| 1-year return | +3.4% | +75.6% |
| 5-year return | n/a | -60.9% |
| Volatility (ann.) | 3.2% | 65.3% |
| Beta vs S&P 500 | 0.05 | 1.45 |
| Max drawdown (3Y) | -2.1% | -79.2% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | 44.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPAT | TBI |
|---|---|---|
| 2022 | – | -29.2% |
| 2023 | – | -21.7% |
| 2024 | – | -45.2% |
| 2025 | +5.4% | -45.8% |
| 2026 | +2.2% | +134.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPAT and TBI good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GPAT and TBI?
As of 2026-08-27, the correlation of weekly returns between GPAT and TBI is 0.39 over 3 years, 0.42 over 1 year and n/a over 5 years.
Is TBI a good diversifier for GPAT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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-tbi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gpat-vs-tbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GPAT correlations · TBI correlations
