CEE vs GSAT: Correlation
How closely do The Central and Eastern Europe Fund, Inc. (The) (CEE) and Globalstar, Inc. (GSAT) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEE and GSAT?
On 3 years of weekly data the CEE/GSAT correlation comes out at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.39 over 3 years. The 5-year figure is 0.20, and annualized covariance runs at 769.9 %².
Among the 12 assets we track against CEE, GSAT sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with GSAT ahead by 170.2 points (+20.8% versus +191.0%). Note the risk asymmetry: GSAT runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CEE vs GSAT: side by side
| CEE (The Central and Eastern Europe Fund, Inc. (The)) | GSAT (Globalstar, Inc.) | |
|---|---|---|
| 1-year return | +20.8% | +191.0% |
| 5-year return | -16.3% | +132.8% |
| Volatility (ann.) | 30.5% | 65.0% |
| Beta vs S&P 500 | 1.06 | 1.38 |
| Max drawdown (3Y) | -22.2% | -50.7% |
| Market cap | – | $10.6B |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 1.92% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CEE | GSAT |
|---|---|---|
| 2022 | -67.8% | +14.7% |
| 2023 | +22.6% | +45.9% |
| 2024 | +15.5% | +6.7% |
| 2025 | +65.6% | +96.6% |
| 2026 | +12.1% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEE and GSAT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CEE and GSAT?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.15 over the last year and 0.20 over 5 years.
Is GSAT a good diversifier for CEE?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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.
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Related comparisons
Hubs: CEE correlations · GSAT correlations
