BLKB vs GIB: Correlation
Measured on weekly returns over the past three years, Blackbaud, Inc. (BLKB) and CGI Inc. (GIB) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLKB and GIB?
Over the past 3 years, BLKB and GIB moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 487.2 %².
Within BLKB's tracked universe of 16 assets, GIB comes in at #6 by 3-year correlation. Neither side won the trailing year by much: -27.0% against -22.4%. One caveat on sizing: BLKB is 1.7 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.
BLKB vs GIB: side by side
| BLKB (Blackbaud, Inc.) | GIB (CGI Inc.) | |
|---|---|---|
| 1-year return | -27.0% | -22.4% |
| 5-year return | -30.1% | -16.0% |
| Volatility (ann.) | 39.2% | 23.3% |
| Beta vs S&P 500 | 0.81 | 0.57 |
| Max drawdown (3Y) | -69.8% | -49.6% |
| Market cap | $2.2B | $15.4B |
| P/E (trailing) | 14.7 | 12.6 |
| Dividend yield | 0.00% | 0.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLKB | GIB |
|---|---|---|
| 2022 | -25.5% | -2.7% |
| 2023 | +47.3% | +24.5% |
| 2024 | -14.7% | +2.1% |
| 2025 | -14.3% | -15.3% |
| 2026 | -23.3% | -18.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLKB and GIB good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BLKB and GIB?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.61 over the last year and 0.49 over 5 years.
Is GIB a good diversifier for BLKB?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/blkb-vs-gib.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blkb-vs-gib/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLKB correlations · GIB correlations
