CSV vs GBLI: Correlation
How closely do Carriage Services, Inc. (CSV) and Global Indemnity Group, LLC - Class A (GBLI) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSV and GBLI?
Across a 3-year window, the weekly returns of CSV and GBLI correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -142.6 %².
Among the 11 assets we track against CSV, GBLI sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months GBLI outperformed by 26.0 percentage points (-22.2% for CSV against +3.8% for GBLI).
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.
CSV vs GBLI: side by side
| CSV (Carriage Services, Inc.) | GBLI (Global Indemnity Group, LLC - Class A) | |
|---|---|---|
| 1-year return | -22.2% | +3.8% |
| 5-year return | -19.2% | +37.0% |
| Volatility (ann.) | 31.0% | 22.2% |
| Beta vs S&P 500 | 0.62 | 0.09 |
| Max drawdown (3Y) | -36.6% | -28.4% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 12.5 | 12.1 |
| Dividend yield | 1.29% | 4.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSV | GBLI |
|---|---|---|
| 2022 | -56.7% | -3.4% |
| 2023 | -7.7% | +42.8% |
| 2024 | +61.8% | +16.6% |
| 2025 | +7.3% | -17.6% |
| 2026 | -18.4% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSV and GBLI good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between CSV and GBLI?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.23 over the last year and -0.14 over 5 years.
Is GBLI a good diversifier for CSV?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/csv-vs-gbli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csv-vs-gbli/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSV correlations · GBLI correlations
