FAST vs GBLI: Correlation
How closely do Fastenal (FAST) and Global Indemnity Group, LLC - Class A (GBLI) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and GBLI?
Over the past 3 years, FAST and GBLI moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -93.2 %².
Among the 33 assets we track against FAST, GBLI ranks #24 by 3-year correlation. Their 12-month results are close: +4.1% for FAST 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.
FAST vs GBLI: side by side
| FAST (Fastenal) | GBLI (Global Indemnity Group, LLC - Class A) | |
|---|---|---|
| 1-year return | +4.1% | +3.8% |
| 5-year return | +105.5% | +37.0% |
| Volatility (ann.) | 24.0% | 22.2% |
| Beta vs S&P 500 | 0.63 | 0.09 |
| Max drawdown (3Y) | -21.9% | -28.4% |
| Market cap | $58.7B | $0.4B |
| P/E (trailing) | 43.7 | 12.1 |
| Dividend yield | 1.80% | 4.89% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FAST | GBLI |
|---|---|---|
| 2022 | -24.3% | -3.4% |
| 2023 | +41.3% | +42.8% |
| 2024 | +13.5% | +16.6% |
| 2025 | +14.0% | -17.6% |
| 2026 | +29.5% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and GBLI good diversifiers for each other?
Yes. With a correlation of -0.17, FAST and GBLI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FAST and GBLI?
As of 2026-08-27, the correlation of weekly returns between FAST and GBLI is -0.17 over 3 years, -0.09 over 1 year and -0.07 over 5 years.
Is GBLI a good diversifier for FAST?
Yes. With a correlation of -0.17, FAST and GBLI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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/fast-vs-gbli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fast-vs-gbli/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FAST correlations · GBLI correlations
