GRBK vs TNC: Correlation
How closely do Green Brick Partners, Inc. (GRBK) and Tennant Company (TNC) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRBK and TNC?
Across a 3-year window, the weekly returns of GRBK and TNC correlate at 0.58, moderate. The past 12 months show a weaker link (0.47) than the 3-year average (0.58). Stretching to 5 years gives 0.50, with an annualized covariance of 680.0 %².
By 3-year correlation, TNC places #18 of the 27 assets tracked against GRBK. Their recent paths diverged sharply: over the last 12 months GRBK outperformed by 19.5 percentage points (+4.5% for GRBK against -15.0% for TNC).
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.
GRBK vs TNC: side by side
| GRBK (Green Brick Partners, Inc.) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | +4.5% | -15.0% |
| 5-year return | +186.8% | +1.8% |
| Volatility (ann.) | 37.3% | 31.5% |
| Beta vs S&P 500 | 1.07 | 0.90 |
| Max drawdown (3Y) | -36.1% | -49.0% |
| Market cap | $3.1B | $1.2B |
| P/E (trailing) | 11.1 | 67.3 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRBK | TNC |
|---|---|---|
| 2022 | -20.1% | -22.8% |
| 2023 | +114.4% | +52.6% |
| 2024 | +8.8% | -11.0% |
| 2025 | +10.9% | -8.2% |
| 2026 | +16.2% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRBK and TNC good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GRBK and TNC?
As of 2026-08-27, the correlation of weekly returns between GRBK and TNC is 0.58 over 3 years, 0.47 over 1 year and 0.50 over 5 years.
Is TNC a good diversifier for GRBK?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grbk-vs-tnc.json
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Related comparisons
Hubs: GRBK correlations · TNC correlations
