GTES vs SNEX: Correlation
Gates Industrial Corporation Ltd. (GTES) and StoneX Group Inc. (SNEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTES and SNEX?
Across a 3-year window, the weekly returns of GTES and SNEX correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 707.9 %².
Within GTES's tracked universe of 22 assets, SNEX comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SNEX outperformed by 52.3 percentage points (+1.5% for GTES against +53.8% for SNEX).
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.
GTES vs SNEX: side by side
| GTES (Gates Industrial Corporation Ltd.) | SNEX (StoneX Group Inc.) | |
|---|---|---|
| 1-year return | +1.5% | +53.8% |
| 5-year return | +56.6% | +414.2% |
| Volatility (ann.) | 35.0% | 37.4% |
| Beta vs S&P 500 | 1.27 | 0.90 |
| Max drawdown (3Y) | -33.8% | -30.2% |
| Market cap | $6.7B | $8.2B |
| P/E (trailing) | 18.8 | 18.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTES | SNEX |
|---|---|---|
| 2022 | -28.3% | +55.6% |
| 2023 | +17.6% | +16.2% |
| 2024 | +53.3% | +32.7% |
| 2025 | +4.4% | +45.7% |
| 2026 | +22.9% | +61.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTES and SNEX good diversifiers for each other?
Only partially. A correlation of 0.54 means GTES and SNEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GTES and SNEX?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.60 over the last year and 0.47 over 5 years.
Is SNEX a good diversifier for GTES?
Only partially. A correlation of 0.54 means GTES and SNEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/gtes-vs-snex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gtes-vs-snex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GTES correlations · SNEX correlations
