FSS vs GIC: Correlation
How closely do Federal Signal Corporation (FSS) and Global Industrial Company (GIC) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSS and GIC?
Across a 3-year window, the weekly returns of FSS and GIC correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.63 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 702.3 %².
GIC is one of the assets that tracks FSS most closely: it ranks #1 out of the 15 assets we track against FSS. On 12-month performance GIC holds a 14.0-point edge, -5.3% against +8.7%.
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.
FSS vs GIC: side by side
| FSS (Federal Signal Corporation) | GIC (Global Industrial Company) | |
|---|---|---|
| 1-year return | -5.3% | +8.7% |
| 5-year return | +203.9% | +21.2% |
| Volatility (ann.) | 31.2% | 35.8% |
| Beta vs S&P 500 | 1.02 | 0.84 |
| Max drawdown (3Y) | -31.5% | -53.2% |
| Market cap | $7.3B | $1.5B |
| P/E (trailing) | 26.2 | 17.8 |
| Dividend yield | 0.48% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSS | GIC |
|---|---|---|
| 2022 | +8.2% | -41.0% |
| 2023 | +66.3% | +69.7% |
| 2024 | +21.1% | -34.3% |
| 2025 | +18.2% | +22.4% |
| 2026 | +11.3% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSS and GIC good diversifiers for each other?
Only partially. A correlation of 0.63 means FSS and GIC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FSS and GIC?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.46 over the last year and 0.55 over 5 years.
Is GIC a good diversifier for FSS?
Only partially. A correlation of 0.63 means FSS and GIC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/fss-vs-gic.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fss-vs-gic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSS correlations · GIC correlations
