BBW vs GAME: Correlation
How closely do Build-A-Bear Workshop, Inc. (BBW) and GameSquare Holdings, Inc. (GAME) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBW and GAME?
Across a 3-year window, the weekly returns of BBW and GAME correlate at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.31 over 3 years. Stretching to 5 years gives -0.22, with an annualized covariance of -6043.0 %².
Among the 16 assets we track against BBW, GAME sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with GAME ahead by 357.5 points (-50.4% versus +307.1%). One caveat on sizing: GAME is 8.2 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.
BBW vs GAME: side by side
| BBW (Build-A-Bear Workshop, Inc.) | GAME (GameSquare Holdings, Inc.) | |
|---|---|---|
| 1-year return | -50.4% | +307.1% |
| 5-year return | +86.4% | -88.4% |
| Volatility (ann.) | 48.4% | 398.8% |
| Beta vs S&P 500 | 0.89 | 1.64 |
| Max drawdown (3Y) | -61.7% | -90.7% |
| Market cap | – | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBW | GAME |
|---|---|---|
| 2022 | +22.1% | -67.8% |
| 2023 | +2.8% | -53.8% |
| 2024 | +105.6% | -54.4% |
| 2025 | +35.4% | -53.3% |
| 2026 | -53.0% | +736.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBW and GAME good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBW and GAME?
As of 2026-08-27, the correlation of weekly returns between BBW and GAME is -0.31 over 3 years, -0.46 over 1 year and -0.22 over 5 years.
Is GAME a good diversifier for BBW?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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: BBW correlations · GAME correlations
