BQ vs GECC: Correlation
Boqii Holding Limited Class A (BQ) and Great Elm Capital Corp. - Closed End Fund (GECC) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BQ and GECC?
Over the past 3 years, BQ and GECC moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.32). Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -2728.3 %².
GECC is close to the least connected end of BQ's tracked universe, ranking #13 of 17. Correlation aside, the last 12 months split them widely, with GECC ahead by 30.7 points (-66.9% versus -36.2%). Risk is not evenly split, since BQ carries 9.0 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.
BQ vs GECC: side by side
| BQ (Boqii Holding Limited Class A) | GECC (Great Elm Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -66.9% | -36.2% |
| 5-year return | -99.8% | -40.4% |
| Volatility (ann.) | 275.5% | 30.5% |
| Beta vs S&P 500 | 1.87 | 0.62 |
| Max drawdown (3Y) | -98.2% | -54.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 21.54% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BQ | GECC |
|---|---|---|
| 2022 | -77.1% | -47.4% |
| 2023 | -88.5% | +49.4% |
| 2024 | -22.1% | +18.9% |
| 2025 | -43.6% | -25.4% |
| 2026 | -54.7% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BQ and GECC good diversifiers for each other?
Yes. With a correlation of -0.32, BQ and GECC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BQ and GECC?
As of 2026-08-27, the correlation of weekly returns between BQ and GECC is -0.32 over 3 years, -0.46 over 1 year and -0.22 over 5 years.
Is GECC a good diversifier for BQ?
Yes. With a correlation of -0.32, BQ and GECC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bq-vs-gecc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bq-vs-gecc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BQ correlations · GECC correlations
