GTLB vs TEAM: Correlation
GitLab Inc. (GTLB) and Atlassian Corporation (TEAM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTLB and TEAM?
Across a 3-year window, the weekly returns of GTLB and TEAM correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 1989.5 %².
In GTLB's tracked universe of 19 assets, TEAM sits right near the top at #2. Over the last 12 months TEAM came out ahead by 13.2 percentage points (-5.2% against +8.0%).
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.
GTLB vs TEAM: side by side
| GTLB (GitLab Inc.) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -5.2% | +8.0% |
| 5-year return | -56.9% | -49.3% |
| Volatility (ann.) | 52.0% | 61.5% |
| Beta vs S&P 500 | 1.49 | 1.66 |
| Max drawdown (3Y) | -75.0% | -82.3% |
| Market cap | $7.6B | $47.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTLB | TEAM |
|---|---|---|
| 2022 | -47.8% | -66.3% |
| 2023 | +38.6% | +84.8% |
| 2024 | -10.5% | +2.3% |
| 2025 | -33.4% | -33.4% |
| 2026 | +19.4% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTLB and TEAM good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GTLB and TEAM?
As of 2026-08-27, the correlation of weekly returns between GTLB and TEAM is 0.62 over 3 years, 0.71 over 1 year and 0.59 over 5 years.
Is TEAM a good diversifier for GTLB?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/gtlb-vs-team.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gtlb-vs-team/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GTLB correlations · TEAM correlations
