BGM vs LBTYB: Correlation
BGM Group Ltd. - Class A (BGM) and Liberty Global Ltd. - Class B (LBTYB) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGM and LBTYB?
On 3 years of weekly data the BGM/LBTYB correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.57) than the 3-year average (-0.25). The 5-year figure is -0.21, and annualized covariance runs at -1442.6 %².
Out of 11 assets tracked against BGM, LBTYB lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months LBTYB outperformed by 106.9 percentage points (-96.4% for BGM against +10.5% for LBTYB). Risk is not evenly split, since BGM carries 1.8 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.
BGM vs LBTYB: side by side
| BGM (BGM Group Ltd. - Class A) | LBTYB (Liberty Global Ltd. - Class B) | |
|---|---|---|
| 1-year return | -96.4% | +10.5% |
| 5-year return | -98.5% | -55.0% |
| Volatility (ann.) | 101.6% | 57.5% |
| Beta vs S&P 500 | 0.50 | 0.32 |
| Max drawdown (3Y) | -98.5% | -58.2% |
| Market cap | $0.1B | $4.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGM | LBTYB |
|---|---|---|
| 2022 | -72.1% | -32.5% |
| 2023 | +7.5% | -6.3% |
| 2024 | +119.2% | -27.3% |
| 2025 | -56.3% | -8.7% |
| 2026 | -92.1% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGM and LBTYB good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGM and LBTYB?
As of 2026-08-27, the correlation of weekly returns between BGM and LBTYB is -0.25 over 3 years, -0.57 over 1 year and -0.21 over 5 years.
Is LBTYB a good diversifier for BGM?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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: BGM correlations · LBTYB correlations
