ASG vs GLBE: Correlation
Liberty All-Star Growth Fund, Inc. (ASG) and Global-E Online Ltd. (GLBE) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and GLBE?
Across a 3-year window, the weekly returns of ASG and GLBE correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 503.2 %².
Among the 52 assets we track against ASG, GLBE ranks #33 by 3-year correlation. The last year tells two different stories: GLBE led by 16.1 percentage points, +3.3% for ASG against +19.4% for GLBE. Note the risk asymmetry: GLBE runs 2.8 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.
ASG vs GLBE: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | GLBE (Global-E Online Ltd.) | |
|---|---|---|
| 1-year return | +3.3% | +19.4% |
| 5-year return | -5.6% | -51.4% |
| Volatility (ann.) | 18.3% | 51.3% |
| Beta vs S&P 500 | 1.12 | 1.64 |
| Max drawdown (3Y) | -25.3% | -56.2% |
| Market cap | $0.3B | $6.6B |
| P/E (trailing) | 23.9 | 44.4 |
| Dividend yield | 8.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASG | GLBE |
|---|---|---|
| 2022 | -40.9% | -67.4% |
| 2023 | +16.2% | +92.0% |
| 2024 | +16.8% | +37.6% |
| 2025 | +2.2% | -27.9% |
| 2026 | +6.0% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and GLBE good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASG and GLBE?
The ASG/GLBE correlation stands at 0.54 on a 3-year window (1 year: 0.48, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is GLBE a good diversifier for ASG?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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.
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Related comparisons
Hubs: ASG correlations · GLBE correlations
