GABC vs QUAD: Correlation
Measured on weekly returns over the past three years, German American Bancorp, Inc. (GABC) and Quad Graphics, Inc (QUAD) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GABC and QUAD?
On 3 years of weekly data the GABC/QUAD correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 626.2 %².
Among the 15 assets we track against GABC, QUAD ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QUAD ahead by 43.8 points (+21.5% versus +65.3%). One caveat on sizing: QUAD is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GABC vs QUAD: side by side
| GABC (German American Bancorp, Inc.) | QUAD (Quad Graphics, Inc) | |
|---|---|---|
| 1-year return | +21.5% | +65.3% |
| 5-year return | +55.3% | +175.4% |
| Volatility (ann.) | 25.1% | 50.1% |
| Beta vs S&P 500 | 0.62 | 0.96 |
| Max drawdown (3Y) | -25.3% | -45.3% |
| Market cap | $1.9B | $0.5B |
| P/E (trailing) | 13.0 | 15.3 |
| Dividend yield | 2.46% | 3.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GABC | QUAD |
|---|---|---|
| 2022 | -2.0% | +2.0% |
| 2023 | -10.2% | +32.8% |
| 2024 | +27.9% | +33.6% |
| 2025 | +0.3% | -5.3% |
| 2026 | +29.1% | +66.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GABC and QUAD good diversifiers for each other?
To a limited degree. At 0.50 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 GABC and QUAD?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.53 over the last year and 0.42 over 5 years.
Is QUAD a good diversifier for GABC?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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/gabc-vs-quad.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gabc-vs-quad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GABC correlations · QUAD correlations
