GTN vs SBGI: Correlation
Gray Media, Inc. (GTN) and Sinclair, Inc. (SBGI) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTN and SBGI?
On 3 years of weekly data the GTN/SBGI correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 2744.3 %².
SBGI is one of the assets that tracks GTN most closely: it ranks #1 out of the 14 assets we track against GTN. The last year tells two different stories: SBGI led by 21.2 percentage points, -18.0% for GTN against +3.2% for SBGI.
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.
GTN vs SBGI: side by side
| GTN (Gray Media, Inc.) | SBGI (Sinclair, Inc.) | |
|---|---|---|
| 1-year return | -18.0% | +3.2% |
| 5-year return | -73.2% | -37.1% |
| Volatility (ann.) | 68.6% | 57.6% |
| Beta vs S&P 500 | 0.76 | 0.91 |
| Max drawdown (3Y) | -68.1% | -33.1% |
| Market cap | $0.5B | $1.0B |
| P/E (trailing) | – | 18.2 |
| Dividend yield | 6.50% | 6.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTN | SBGI |
|---|---|---|
| 2022 | -43.4% | -38.7% |
| 2023 | -16.7% | -9.8% |
| 2024 | -62.4% | +32.6% |
| 2025 | +64.6% | +1.5% |
| 2026 | +2.7% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTN and SBGI good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GTN and SBGI?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.63 over the last year and 0.65 over 5 years.
Is SBGI a good diversifier for GTN?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/gtn-vs-sbgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gtn-vs-sbgi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GTN correlations · SBGI correlations
