BXC vs GSM: Correlation
How closely do Bluelinx Holdings Inc. (BXC) and Ferroglobe PLC (GSM) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXC and GSM?
Over the past 3 years, BXC and GSM moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 1843.0 %².
Within BXC's tracked universe of 33 assets, GSM comes in at #14 by 3-year correlation. Neither side won the trailing year by much: -2.6% against -3.3%.
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.
BXC vs GSM: side by side
| BXC (Bluelinx Holdings Inc.) | GSM (Ferroglobe PLC) | |
|---|---|---|
| 1-year return | -2.6% | -3.3% |
| 5-year return | +33.6% | -45.4% |
| Volatility (ann.) | 62.7% | 52.6% |
| Beta vs S&P 500 | 1.54 | 1.11 |
| Max drawdown (3Y) | -65.6% | -53.7% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXC | GSM |
|---|---|---|
| 2022 | -25.7% | -38.0% |
| 2023 | +59.3% | +69.1% |
| 2024 | -9.8% | -40.9% |
| 2025 | -39.9% | +23.7% |
| 2026 | +29.8% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXC and GSM good diversifiers for each other?
To a limited degree. At 0.56 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 BXC and GSM?
The BXC/GSM correlation stands at 0.56 on a 3-year window (1 year: 0.66, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is GSM a good diversifier for BXC?
To a limited degree. At 0.56 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 0.56 mean?
On the −1 to +1 scale, 0.56 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/bxc-vs-gsm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bxc-vs-gsm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BXC correlations · GSM correlations
