FXI vs GBLI: Correlation
Measured on weekly returns over the past three years, iShares China Large-Cap ETF (FXI) and Global Indemnity Group, LLC - Class A (GBLI) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXI and GBLI?
Over the past 3 years, FXI and GBLI moved with a correlation of 0.26, which is weak. Recent behaviour matches the longer record: 0.30 over 1 year against 0.26 over 3. Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 147.3 %².
By 3-year correlation, GBLI places #56 of the 74 assets tracked against FXI. On 12-month performance GBLI holds a 9.9-point edge, -6.1% against +3.8%.
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.
FXI vs GBLI: side by side
| FXI (iShares China Large-Cap ETF) | GBLI (Global Indemnity Group, LLC - Class A) | |
|---|---|---|
| 1-year return | -6.1% | +3.8% |
| 5-year return | -1.4% | +37.0% |
| Volatility (ann.) | 25.3% | 22.2% |
| Beta vs S&P 500 | 0.68 | 0.09 |
| Max drawdown (3Y) | -23.2% | -28.4% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 1.87% | 4.89% |
| Expense ratio | 0.73% | – |
| Assets under management | $4.3B | – |
| Sector / category | ETF · International | US Listed |
FXI is a Greater China Region fund from iShares: $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | FXI | GBLI |
|---|---|---|
| 2022 | -20.7% | -3.4% |
| 2023 | -12.4% | +42.8% |
| 2024 | +29.0% | +16.6% |
| 2025 | +28.9% | -17.6% |
| 2026 | -7.3% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXI and GBLI good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FXI and GBLI?
The FXI/GBLI correlation stands at 0.26 on a 3-year window (1 year: 0.30, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is GBLI a good diversifier for FXI?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
A reading of 0.26 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/fxi-vs-gbli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fxi-vs-gbli/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FXI correlations · GBLI correlations
