BBSI vs GLD: Correlation
How closely do Barrett Business Services, Inc. (BBSI) and SPDR Gold Shares (GLD) 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 BBSI and GLD?
Over the past 3 years, BBSI and GLD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -121.9 %².
GLD is close to the least connected end of BBSI's tracked universe, ranking #12 of 16. The last year tells two different stories: GLD led by 63.9 percentage points, -28.8% for BBSI against +35.1% for GLD. Risk is not evenly split, since BBSI carries 1.6 times the volatility of the other side.
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.
BBSI vs GLD: side by side
| BBSI (Barrett Business Services, Inc.) | GLD (SPDR Gold Shares) | |
|---|---|---|
| 1-year return | -28.8% | +35.1% |
| 5-year return | +89.3% | +149.5% |
| Volatility (ann.) | 30.3% | 18.7% |
| Beta vs S&P 500 | 0.64 | 0.18 |
| Max drawdown (3Y) | -45.3% | -26.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 0.94% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | BBSI | GLD |
|---|---|---|
| 2022 | +37.1% | -0.8% |
| 2023 | +25.8% | +12.7% |
| 2024 | +51.4% | +26.7% |
| 2025 | -16.0% | +63.7% |
| 2026 | -4.9% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBSI and GLD good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBSI and GLD?
As of 2026-08-27, the correlation of weekly returns between BBSI and GLD is -0.22 over 3 years, -0.27 over 1 year and -0.11 over 5 years.
Is GLD a good diversifier for BBSI?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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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Hubs: BBSI correlations · GLD correlations
