BUR vs GAM: Correlation
Burford Capital Limited (BUR) and General American Investors, Inc. (GAM) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUR and GAM?
Across a 3-year window, the weekly returns of BUR and GAM correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.42, with an annualized covariance of 293.3 %².
By 3-year correlation, GAM places #5 of the 15 assets tracked against BUR. Their recent paths diverged sharply: over the last 12 months GAM outperformed by 94.3 percentage points (-68.2% for BUR against +26.1% for GAM). One caveat on sizing: BUR is 3.4 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.
BUR vs GAM: side by side
| BUR (Burford Capital Limited) | GAM (General American Investors, Inc.) | |
|---|---|---|
| 1-year return | -68.2% | +26.1% |
| 5-year return | -62.0% | +118.0% |
| Volatility (ann.) | 46.5% | 13.6% |
| Beta vs S&P 500 | 1.40 | 0.81 |
| Max drawdown (3Y) | -75.5% | -14.9% |
| Market cap | $0.9B | $1.6B |
| P/E (trailing) | – | 4.2 |
| Dividend yield | 1.45% | 9.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BUR | GAM |
|---|---|---|
| 2022 | -21.6% | -14.8% |
| 2023 | +93.3% | +26.8% |
| 2024 | -17.5% | +29.5% |
| 2025 | -29.7% | +28.6% |
| 2026 | -50.9% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUR and GAM good diversifiers for each other?
Reasonably. At 0.46, BUR and GAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BUR and GAM?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.56 over the last year and 0.42 over 5 years.
Is GAM a good diversifier for BUR?
Reasonably. At 0.46, BUR and GAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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/bur-vs-gam.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bur-vs-gam/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BUR correlations · GAM correlations
