PARA vs TRTX: Correlation
Measured on weekly returns over the past three years, Banzai International, Inc. (PARA) and TPG RE Finance Trust, Inc. (TRTX) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PARA and TRTX?
On 3 years of weekly data the PARA/TRTX correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -674.6 %².
Within PARA's tracked universe of 20 assets, TRTX comes in at #13 by 3-year correlation. The last year tells two different stories: TRTX led by 91.9 percentage points, -98.2% for PARA against -6.3% for TRTX. Note the risk asymmetry: PARA runs 3.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PARA vs TRTX: side by side
| PARA (Banzai International, Inc.) | TRTX (TPG RE Finance Trust, Inc.) | |
|---|---|---|
| 1-year return | -98.2% | -6.3% |
| 5-year return | -100.0% | +9.9% |
| Volatility (ann.) | 114.5% | 29.0% |
| Beta vs S&P 500 | -0.02 | 0.55 |
| Max drawdown (3Y) | -100.0% | -29.3% |
| Market cap | – | $0.6B |
| P/E (trailing) | 0.1 | 14.1 |
| Dividend yield | 0.00% | 12.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PARA | TRTX |
|---|---|---|
| 2022 | +3.7% | -38.4% |
| 2023 | -81.4% | +9.7% |
| 2024 | -98.4% | +46.9% |
| 2025 | -93.7% | +13.5% |
| 2026 | -93.8% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PARA and TRTX good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between PARA and TRTX?
The PARA/TRTX correlation stands at -0.20 on a 3-year window (1 year: -0.28, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is TRTX a good diversifier for PARA?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/para-vs-trtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/para-vs-trtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PARA correlations · TRTX correlations
