GPAT vs WRAP: Correlation
How closely do GP-Act III Acquisition Corp. - Class A (GPAT) and Wrap Technologies, Inc. (WRAP) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPAT and WRAP?
Across a 3-year window, the weekly returns of GPAT and WRAP correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 110.9 %².
Within GPAT's tracked universe of 22 assets, WRAP comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WRAP ahead by 26.9 points (+3.4% versus +30.3%). Risk is not evenly split, since WRAP carries 33.1 times the volatility of the other side.
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 WRAP: side by side
| GPAT (GP-Act III Acquisition Corp. - Class A) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | +3.4% | +30.3% |
| 5-year return | n/a | -77.2% |
| Volatility (ann.) | 3.2% | 106.0% |
| Beta vs S&P 500 | 0.05 | 2.11 |
| Max drawdown (3Y) | -2.1% | -76.8% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 44.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPAT | WRAP |
|---|---|---|
| 2022 | – | -57.0% |
| 2023 | – | +83.4% |
| 2024 | – | -31.6% |
| 2025 | +5.4% | +12.3% |
| 2026 | +2.2% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPAT and WRAP good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GPAT and WRAP?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.46 over the last year and n/a over 5 years.
Is WRAP a good diversifier for GPAT?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gpat-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GPAT correlations · WRAP correlations
