GRRR vs MTRX: Correlation
Measured on weekly returns over the past three years, Gorilla Technology Group Inc. (GRRR) and Matrix Service Company (MTRX) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRRR and MTRX?
Across a 3-year window, the weekly returns of GRRR and MTRX correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.30 lands near the 3-year figure. Stretching to 5 years gives 0.08, with an annualized covariance of 2313.1 %².
Within GRRR's tracked universe of 12 assets, MTRX comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRRR ahead by 25.9 points (-3.1% versus -29.0%). Note the risk asymmetry: GRRR runs 2.3 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.
GRRR vs MTRX: side by side
| GRRR (Gorilla Technology Group Inc.) | MTRX (Matrix Service Company) | |
|---|---|---|
| 1-year return | -3.1% | -29.0% |
| 5-year return | -84.2% | -3.9% |
| Volatility (ann.) | 116.9% | 51.6% |
| Beta vs S&P 500 | 1.92 | 1.13 |
| Max drawdown (3Y) | -85.8% | -36.0% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRRR | MTRX |
|---|---|---|
| 2022 | -18.9% | -17.3% |
| 2023 | -93.4% | +57.2% |
| 2024 | +235.1% | +22.4% |
| 2025 | -39.5% | -2.3% |
| 2026 | +43.4% | -6.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRRR and MTRX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRRR and MTRX?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.30 over the last year and 0.08 over 5 years.
Is MTRX a good diversifier for GRRR?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/grrr-vs-mtrx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/grrr-vs-mtrx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRRR correlations · MTRX correlations
