GYRE vs TRTX: Correlation
Measured on weekly returns over the past three years, Gyre Therapeutics, Inc. (GYRE) and TPG RE Finance Trust, Inc. (TRTX) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GYRE and TRTX?
Across a 3-year window, the weekly returns of GYRE and TRTX correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.38 over 3 years. Stretching to 5 years gives 0.20, with an annualized covariance of 1027.2 %².
In GYRE's tracked universe of 11 assets, TRTX sits right near the top at #1. The trailing year gives TRTX the advantage: -17.6% versus -6.3%, a 11.3-point spread. One caveat on sizing: GYRE is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GYRE vs TRTX: side by side
| GYRE (Gyre Therapeutics, Inc.) | TRTX (TPG RE Finance Trust, Inc.) | |
|---|---|---|
| 1-year return | -17.6% | -6.3% |
| 5-year return | -38.8% | +9.9% |
| Volatility (ann.) | 93.7% | 29.0% |
| Beta vs S&P 500 | 1.58 | 0.55 |
| Max drawdown (3Y) | -81.3% | -29.3% |
| Market cap | $0.7B | $0.6B |
| P/E (trailing) | – | 14.1 |
| Dividend yield | 0.00% | 12.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GYRE | TRTX |
|---|---|---|
| 2022 | +121.5% | -38.4% |
| 2023 | +422.0% | +9.7% |
| 2024 | -52.9% | +46.9% |
| 2025 | -41.7% | +13.5% |
| 2026 | -5.4% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GYRE and TRTX good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GYRE and TRTX?
As of 2026-08-27, the correlation of weekly returns between GYRE and TRTX is 0.38 over 3 years, 0.20 over 1 year and 0.20 over 5 years.
Is TRTX a good diversifier for GYRE?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/gyre-vs-trtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gyre-vs-trtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GYRE correlations · TRTX correlations
