FELE vs GIC: Correlation
Franklin Electric Co., Inc. (FELE) and Global Industrial Company (GIC) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and GIC?
On 3 years of weekly data the FELE/GIC correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 437.7 %².
By 3-year correlation, GIC places #17 of the 25 assets tracked against FELE. Their 12-month results are close: +3.8% for FELE against +8.7% for GIC. Note the risk asymmetry: GIC runs 1.6 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.
FELE vs GIC: side by side
| FELE (Franklin Electric Co., Inc.) | GIC (Global Industrial Company) | |
|---|---|---|
| 1-year return | +3.8% | +8.7% |
| 5-year return | +25.2% | +21.2% |
| Volatility (ann.) | 22.7% | 35.8% |
| Beta vs S&P 500 | 0.79 | 0.84 |
| Max drawdown (3Y) | -23.5% | -53.2% |
| Market cap | $4.5B | $1.5B |
| P/E (trailing) | 29.4 | 17.8 |
| Dividend yield | 1.06% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | GIC |
|---|---|---|
| 2022 | -14.9% | -41.0% |
| 2023 | +22.4% | +69.7% |
| 2024 | +1.8% | -34.3% |
| 2025 | -0.9% | +22.4% |
| 2026 | +7.8% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FELE and GIC good diversifiers for each other?
To a limited degree. At 0.54 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 FELE and GIC?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.56 over the last year and 0.45 over 5 years.
Is GIC a good diversifier for FELE?
To a limited degree. At 0.54 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 0.54 mean?
On the −1 to +1 scale, 0.54 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/fele-vs-gic.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fele-vs-gic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FELE correlations · GIC correlations
