BBAR vs GIC: Correlation
How closely do Banco BBVA Argentina S.A. (BBAR) and Global Industrial Company (GIC) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBAR and GIC?
Over the past 3 years, BBAR and GIC moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.22 over 3 years. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -556.0 %².
Within BBAR's tracked universe of 17 assets, GIC comes in at #12 by 3-year correlation. Over the last 12 months BBAR came out ahead by 11.9 percentage points (+20.6% against +8.7%). One caveat on sizing: BBAR is 2.0 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.
BBAR vs GIC: side by side
| BBAR (Banco BBVA Argentina S.A.) | GIC (Global Industrial Company) | |
|---|---|---|
| 1-year return | +20.6% | +8.7% |
| 5-year return | +356.0% | +21.2% |
| Volatility (ann.) | 70.3% | 35.8% |
| Beta vs S&P 500 | 1.06 | 0.84 |
| Max drawdown (3Y) | -66.3% | -53.2% |
| Market cap | $3.0B | $1.5B |
| P/E (trailing) | 15.9 | 17.8 |
| Dividend yield | 0.00% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBAR | GIC |
|---|---|---|
| 2022 | +34.6% | -41.0% |
| 2023 | +47.3% | +69.7% |
| 2024 | +315.7% | -34.3% |
| 2025 | -5.2% | +22.4% |
| 2026 | -17.7% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBAR and GIC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBAR and GIC?
As of 2026-08-27, the correlation of weekly returns between BBAR and GIC is -0.22 over 3 years, -0.44 over 1 year and -0.12 over 5 years.
Is GIC a good diversifier for BBAR?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbar-vs-gic.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbar-vs-gic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBAR correlations · GIC correlations
