FOXA vs GDYN: Correlation
Measured on weekly returns over the past three years, Fox Corporation (Class A) (FOXA) and Grid Dynamics Holdings, Inc. (GDYN) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and GDYN?
Across a 3-year window, the weekly returns of FOXA and GDYN correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.26, with an annualized covariance of 657.0 %².
Among the 33 assets we track against FOXA, GDYN ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FOXA outperformed by 16.2 percentage points (+14.0% for FOXA against -2.2% for GDYN). Risk is not evenly split, since GDYN carries 1.7 times the volatility of the other side.
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.
FOXA vs GDYN: side by side
| FOXA (Fox Corporation (Class A)) | GDYN (Grid Dynamics Holdings, Inc.) | |
|---|---|---|
| 1-year return | +14.0% | -2.2% |
| 5-year return | +93.4% | -70.4% |
| Volatility (ann.) | 29.3% | 48.4% |
| Beta vs S&P 500 | 0.56 | 1.54 |
| Max drawdown (3Y) | -35.6% | -78.3% |
| Market cap | $28.3B | $0.6B |
| P/E (trailing) | 18.1 | 263.0 |
| Dividend yield | 0.80% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | FOXA | GDYN |
|---|---|---|
| 2022 | -16.6% | -70.5% |
| 2023 | -0.8% | +18.8% |
| 2024 | +66.3% | +66.8% |
| 2025 | +51.8% | -59.4% |
| 2026 | -7.6% | -12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and GDYN good diversifiers for each other?
Reasonably. At 0.46, FOXA and GDYN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FOXA and GDYN?
As of 2026-08-27, the correlation of weekly returns between FOXA and GDYN is 0.46 over 3 years, 0.53 over 1 year and 0.26 over 5 years.
Is GDYN a good diversifier for FOXA?
Reasonably. At 0.46, FOXA and GDYN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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/foxa-vs-gdyn.json
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Related comparisons
Hubs: FOXA correlations · GDYN correlations
