GVA vs TRN: Correlation
Measured on weekly returns over the past three years, Granite Construction Incorporated (GVA) and Trinity Industries, Inc. (TRN) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVA and TRN?
On 3 years of weekly data the GVA/TRN correlation comes out at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.57). The 5-year figure is 0.59, and annualized covariance runs at 761.3 %².
By 3-year correlation, TRN places #6 of the 14 assets tracked against GVA. On 12-month performance GVA holds a 7.4-point edge, +13.9% against +6.5%.
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.
GVA vs TRN: side by side
| GVA (Granite Construction Incorporated) | TRN (Trinity Industries, Inc.) | |
|---|---|---|
| 1-year return | +13.9% | +6.5% |
| 5-year return | +219.9% | +22.0% |
| Volatility (ann.) | 35.5% | 37.5% |
| Beta vs S&P 500 | 1.13 | 0.89 |
| Max drawdown (3Y) | -29.1% | -39.6% |
| Market cap | $5.5B | $2.3B |
| P/E (trailing) | – | 7.0 |
| Dividend yield | 0.42% | 4.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GVA | TRN |
|---|---|---|
| 2022 | -7.8% | +1.5% |
| 2023 | +46.8% | -6.2% |
| 2024 | +73.8% | +37.2% |
| 2025 | +32.2% | -21.5% |
| 2026 | +8.3% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVA and TRN good diversifiers for each other?
Only partially. A correlation of 0.57 means GVA and TRN 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 GVA and TRN?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.42 over the last year and 0.59 over 5 years.
Is TRN a good diversifier for GVA?
Only partially. A correlation of 0.57 means GVA and TRN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gva-vs-trn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gva-vs-trn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GVA correlations · TRN correlations
