BGC vs IBOC: Correlation
How closely do BGC Group, Inc. (BGC) and International Bancshares Corporation (IBOC) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGC and IBOC?
Over the past 3 years, BGC and IBOC moved with a correlation of 0.46, which is moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.46). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 423.5 %².
In BGC's tracked universe of 10 assets, IBOC sits right near the top at #3. The last year tells two different stories: BGC led by 22.4 percentage points, +21.5% for BGC against -0.9% for IBOC.
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 IBOC: side by side
| BGC (BGC Group, Inc.) | IBOC (International Bancshares Corporation) | |
|---|---|---|
| 1-year return | +21.5% | -0.9% |
| 5-year return | +146.1% | +91.3% |
| Volatility (ann.) | 34.0% | 26.9% |
| Beta vs S&P 500 | 0.90 | 0.77 |
| Max drawdown (3Y) | -34.5% | -24.1% |
| Market cap | $5.8B | $4.4B |
| P/E (trailing) | 29.5 | 10.7 |
| Dividend yield | 0.67% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGC | IBOC |
|---|---|---|
| 2022 | -18.1% | +10.9% |
| 2023 | +93.0% | +22.0% |
| 2024 | +26.5% | +19.1% |
| 2025 | -0.6% | +7.4% |
| 2026 | +36.3% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGC and IBOC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BGC and IBOC?
The BGC/IBOC correlation stands at 0.46 on a 3-year window (1 year: 0.33, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is IBOC a good diversifier for BGC?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/bgc-vs-iboc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgc-vs-iboc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGC correlations · IBOC correlations
