GRMN vs TCRT: Correlation
Measured on weekly returns over the past three years, Garmin (GRMN) and Alaunos Therapeutics, Inc. (TCRT) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and TCRT?
Across a 3-year window, the weekly returns of GRMN and TCRT correlate at -0.15, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.07 versus -0.15 over 3 years. Stretching to 5 years gives -0.06, with an annualized covariance of -630.7 %².
Among the 36 assets we track against GRMN, TCRT ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRMN ahead by 37.3 points (+25.1% versus -12.2%). Note the risk asymmetry: TCRT runs 3.5 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.
GRMN vs TCRT: side by side
| GRMN (Garmin) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +25.1% | -12.2% |
| 5-year return | +80.9% | -99.3% |
| Volatility (ann.) | 34.7% | 121.9% |
| Beta vs S&P 500 | 1.06 | -1.11 |
| Max drawdown (3Y) | -28.0% | -95.0% |
| Market cap | $55.9B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 1.45% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GRMN | TCRT |
|---|---|---|
| 2022 | -30.2% | -40.4% |
| 2023 | +43.1% | -89.2% |
| 2024 | +63.3% | -81.8% |
| 2025 | -0.1% | +69.1% |
| 2026 | +44.1% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and TCRT good diversifiers for each other?
Yes. With a correlation of -0.15, GRMN and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRMN and TCRT?
As of 2026-08-27, the correlation of weekly returns between GRMN and TCRT is -0.15 over 3 years, 0.07 over 1 year and -0.06 over 5 years.
Is TCRT a good diversifier for GRMN?
Yes. With a correlation of -0.15, GRMN and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grmn-vs-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grmn-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRMN correlations · TCRT correlations
