AWI vs GIC: Correlation
Armstrong World Industries Inc (AWI) and Global Industrial Company (GIC) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWI and GIC?
Over the past 3 years, AWI and GIC moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 540.8 %².
Among the 15 assets we track against AWI, GIC ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GIC outperformed by 19.2 percentage points (-10.5% for AWI against +8.7% for GIC).
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.
AWI vs GIC: side by side
| AWI (Armstrong World Industries Inc) | GIC (Global Industrial Company) | |
|---|---|---|
| 1-year return | -10.5% | +8.7% |
| 5-year return | +76.7% | +21.2% |
| Volatility (ann.) | 27.3% | 35.8% |
| Beta vs S&P 500 | 0.88 | 0.84 |
| Max drawdown (3Y) | -25.2% | -53.2% |
| Market cap | $7.4B | $1.5B |
| P/E (trailing) | 24.3 | 17.8 |
| Dividend yield | 0.76% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWI | GIC |
|---|---|---|
| 2022 | -40.3% | -41.0% |
| 2023 | +45.4% | +69.7% |
| 2024 | +45.1% | -34.3% |
| 2025 | +36.2% | +22.4% |
| 2026 | -7.6% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWI and GIC good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWI and GIC?
As of 2026-08-27, the correlation of weekly returns between AWI and GIC is 0.55 over 3 years, 0.52 over 1 year and 0.53 over 5 years.
Is GIC a good diversifier for AWI?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AWI correlations · GIC correlations
