GPGI vs WAL: Correlation
Measured on weekly returns over the past three years, GPGI, Inc. (GPGI) and Western Alliance Bancorporation (WAL) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPGI and WAL?
Across a 3-year window, the weekly returns of GPGI and WAL correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.26, with an annualized covariance of 905.4 %².
By 3-year correlation, WAL places #5 of the 13 assets tracked against GPGI. The last year tells two different stories: WAL led by 23.9 percentage points, -33.2% for GPGI against -9.3% for WAL.
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.
GPGI vs WAL: side by side
| GPGI (GPGI, Inc.) | WAL (Western Alliance Bancorporation) | |
|---|---|---|
| 1-year return | -33.2% | -9.3% |
| 5-year return | +66.0% | -9.7% |
| Volatility (ann.) | 53.8% | 39.5% |
| Beta vs S&P 500 | 1.14 | 1.51 |
| Max drawdown (3Y) | -55.7% | -36.0% |
| Market cap | $3.8B | $8.6B |
| P/E (trailing) | – | 9.0 |
| Dividend yield | 0.04% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPGI | WAL |
|---|---|---|
| 2022 | -40.2% | -43.7% |
| 2023 | +10.0% | +14.1% |
| 2024 | +197.3% | +29.7% |
| 2025 | +51.4% | +2.5% |
| 2026 | -31.2% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPGI and WAL good diversifiers for each other?
Reasonably. At 0.43, GPGI and WAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GPGI and WAL?
The GPGI/WAL correlation stands at 0.43 on a 3-year window (1 year: 0.33, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is WAL a good diversifier for GPGI?
Reasonably. At 0.43, GPGI and WAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: GPGI correlations · WAL correlations
