BDL vs GBR: Correlation
Flanigan's Enterprises, Inc. (BDL) and New Concept Energy, Inc (GBR) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDL and GBR?
Across a 3-year window, the weekly returns of BDL and GBR correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -519.0 %².
Out of 12 assets tracked against BDL, GBR lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months BDL outperformed by 76.4 percentage points (+63.9% for BDL against -12.5% for GBR).
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.
BDL vs GBR: side by side
| BDL (Flanigan's Enterprises, Inc.) | GBR (New Concept Energy, Inc) | |
|---|---|---|
| 1-year return | +63.9% | -12.5% |
| 5-year return | +118.2% | -81.2% |
| Volatility (ann.) | 39.5% | 58.4% |
| Beta vs S&P 500 | 0.37 | 0.50 |
| Max drawdown (3Y) | -30.5% | -65.0% |
| Market cap | – | – |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 1.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDL | GBR |
|---|---|---|
| 2022 | -13.7% | -54.2% |
| 2023 | +0.8% | -8.3% |
| 2024 | +0.0% | +16.0% |
| 2025 | +19.2% | -35.3% |
| 2026 | +64.1% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDL and GBR good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between BDL and GBR?
The BDL/GBR correlation stands at -0.23 on a 3-year window (1 year: -0.17, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is GBR a good diversifier for BDL?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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: BDL correlations · GBR correlations
