GTES vs TG: Correlation
How closely do Gates Industrial Corporation Ltd. (GTES) and Tredegar Corporation (TG) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTES and TG?
On 3 years of weekly data the GTES/TG correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 784.8 %².
By 3-year correlation, TG places #15 of the 22 assets tracked against GTES. Twelve-month performance is nearly a tie, at +1.5% for GTES and -0.5% for TG.
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 TG: side by side
| GTES (Gates Industrial Corporation Ltd.) | TG (Tredegar Corporation) | |
|---|---|---|
| 1-year return | +1.5% | -0.5% |
| 5-year return | +56.6% | -35.5% |
| Volatility (ann.) | 35.0% | 47.3% |
| Beta vs S&P 500 | 1.27 | 1.03 |
| Max drawdown (3Y) | -33.8% | -33.4% |
| Market cap | $6.7B | $0.3B |
| P/E (trailing) | 18.8 | 8.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTES | TG |
|---|---|---|
| 2022 | -28.3% | -9.6% |
| 2023 | +17.6% | -45.2% |
| 2024 | +53.3% | +42.0% |
| 2025 | +4.4% | -6.5% |
| 2026 | +22.9% | +6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTES and TG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GTES and TG?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.39 over the last year and 0.47 over 5 years.
Is TG a good diversifier for GTES?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gtes-vs-tg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gtes-vs-tg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GTES correlations · TG correlations
