G vs GMED: Correlation
How closely do Genpact Limited (G) and Globus Medical, Inc. (GMED) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are G and GMED?
Across a 3-year window, the weekly returns of G and GMED correlate at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 722.7 %².
Among the 13 assets we track against G, GMED ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GMED outperformed by 50.3 percentage points (-16.1% for G against +34.2% for GMED).
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.
G vs GMED: side by side
| G (Genpact Limited) | GMED (Globus Medical, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +34.2% |
| 5-year return | -22.8% | +0.4% |
| Volatility (ann.) | 34.0% | 41.6% |
| Beta vs S&P 500 | 0.61 | 0.74 |
| Max drawdown (3Y) | -49.4% | -44.4% |
| Market cap | $6.3B | $11.1B |
| P/E (trailing) | 11.0 | 21.1 |
| Dividend yield | 1.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | G | GMED |
|---|---|---|
| 2022 | -11.7% | +2.9% |
| 2023 | -24.0% | -28.2% |
| 2024 | +25.8% | +55.2% |
| 2025 | +10.2% | +5.6% |
| 2026 | -18.9% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are G and GMED good diversifiers for each other?
Only partially. A correlation of 0.51 means G and GMED 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 G and GMED?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.50 over the last year and 0.47 over 5 years.
Is GMED a good diversifier for G?
Only partially. A correlation of 0.51 means G and GMED share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: G correlations · GMED correlations
