GPAT vs TPL: Correlation
GP-Act III Acquisition Corp. - Class A (GPAT) and Texas Pacific Land Corporation (TPL) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPAT and TPL?
Across a 3-year window, the weekly returns of GPAT and TPL correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.19). Stretching to 5 years gives n/a, with an annualized covariance of -31.8 %².
Among the 22 assets we track against GPAT, TPL ranks #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TPL ahead by 19.4 points (+3.4% versus +22.8%). Note the risk asymmetry: TPL runs 15.6 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 TPL: side by side
| GPAT (GP-Act III Acquisition Corp. - Class A) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +3.4% | +22.8% |
| 5-year return | n/a | +149.6% |
| Volatility (ann.) | 3.2% | 50.0% |
| Beta vs S&P 500 | 0.05 | 0.62 |
| Max drawdown (3Y) | -2.1% | -52.2% |
| Market cap | $0.2B | $25.5B |
| P/E (trailing) | 44.6 | 47.2 |
| Dividend yield | 0.00% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | GPAT | TPL |
|---|---|---|
| 2022 | – | +91.3% |
| 2023 | – | -32.4% |
| 2024 | – | +115.3% |
| 2025 | +5.4% | -21.6% |
| 2026 | +2.2% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPAT and TPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between GPAT and TPL?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.33 over the last year and n/a over 5 years.
Is TPL a good diversifier for GPAT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: GPAT correlations · TPL correlations
