GTBP vs SES: Correlation
How closely do GT Biopharma, Inc. (GTBP) and SES AI Corporation (SES) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTBP and SES?
Across a 3-year window, the weekly returns of GTBP and SES correlate at 0.46, moderate. The link has loosened recently: the 1-year correlation (-0.01) runs below the 3-year figure (0.46). Stretching to 5 years gives 0.38, with an annualized covariance of 12281.6 %².
SES is one of the assets that tracks GTBP most closely: it ranks #2 out of the 10 assets we track against GTBP. Correlation aside, the last 12 months split them widely, with SES ahead by 22.5 points (-73.5% versus -51.0%). Risk is not evenly split, since SES carries 3.3 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.
GTBP vs SES: side by side
| GTBP (GT Biopharma, Inc.) | SES (SES AI Corporation) | |
|---|---|---|
| 1-year return | -73.5% | -51.0% |
| 5-year return | -99.9% | -94.5% |
| Volatility (ann.) | 90.4% | 294.5% |
| Beta vs S&P 500 | 0.76 | 2.43 |
| Max drawdown (3Y) | -97.1% | -89.7% |
| Market cap | – | $0.2B |
| P/E (trailing) | 0.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTBP | SES |
|---|---|---|
| 2022 | -71.0% | -68.3% |
| 2023 | -71.2% | -41.9% |
| 2024 | -60.1% | +19.7% |
| 2025 | -74.3% | -17.8% |
| 2026 | -61.6% | -69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTBP and SES good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GTBP and SES?
As of 2026-08-27, the correlation of weekly returns between GTBP and SES is 0.46 over 3 years, -0.01 over 1 year and 0.38 over 5 years.
Is SES a good diversifier for GTBP?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GTBP correlations · SES correlations
