BGC vs GHC: Correlation
BGC Group, Inc. (BGC) and Graham Holdings Company (GHC) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGC and GHC?
Across a 3-year window, the weekly returns of BGC and GHC correlate at 0.45, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.45). Stretching to 5 years gives 0.29, with an annualized covariance of 408.6 %².
Among the 10 assets we track against BGC, GHC ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BGC ahead by 16.3 points (+21.5% versus +5.2%).
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.
BGC vs GHC: side by side
| BGC (BGC Group, Inc.) | GHC (Graham Holdings Company) | |
|---|---|---|
| 1-year return | +21.5% | +5.2% |
| 5-year return | +146.1% | +94.6% |
| Volatility (ann.) | 34.0% | 26.8% |
| Beta vs S&P 500 | 0.90 | 0.78 |
| Max drawdown (3Y) | -34.5% | -19.8% |
| Market cap | $5.8B | $4.8B |
| P/E (trailing) | 29.5 | 9.2 |
| Dividend yield | 0.67% | 0.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGC | GHC |
|---|---|---|
| 2022 | -18.1% | -3.0% |
| 2023 | +93.0% | +16.6% |
| 2024 | +26.5% | +26.3% |
| 2025 | -0.6% | +27.0% |
| 2026 | +36.3% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGC and GHC good diversifiers for each other?
Reasonably. At 0.45, BGC and GHC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGC and GHC?
As of 2026-08-27, the correlation of weekly returns between BGC and GHC is 0.45 over 3 years, 0.29 over 1 year and 0.29 over 5 years.
Is GHC a good diversifier for BGC?
Reasonably. At 0.45, BGC and GHC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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: BGC correlations · GHC correlations
