GBFH vs GRN: Correlation
GBank Financial Holdings Inc. (GBFH) and iPath Series B Carbon Exchange-Traded Notes (GRN) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBFH and GRN?
Over the past 3 years, GBFH and GRN moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.34). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 410.2 %².
Within GBFH's tracked universe of 18 assets, GRN comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRN ahead by 65.2 points (-50.5% versus +14.7%). Note the risk asymmetry: GBFH runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GBFH vs GRN: side by side
| GBFH (GBank Financial Holdings Inc.) | GRN (iPath Series B Carbon Exchange-Traded Notes) | |
|---|---|---|
| 1-year return | -50.5% | +14.7% |
| 5-year return | n/a | +36.8% |
| Volatility (ann.) | 49.3% | 29.5% |
| Beta vs S&P 500 | 1.11 | 0.40 |
| Max drawdown (3Y) | -53.8% | -40.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | 15.9 | 3.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBFH | GRN |
|---|---|---|
| 2022 | – | -0.1% |
| 2023 | – | -3.0% |
| 2024 | – | -7.3% |
| 2025 | -21.2% | +20.3% |
| 2026 | -40.0% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBFH and GRN good diversifiers for each other?
Reasonably. At 0.34, GBFH and GRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GBFH and GRN?
As of 2026-08-27, the correlation of weekly returns between GBFH and GRN is 0.34 over 3 years, 0.23 over 1 year and n/a over 5 years.
Is GRN a good diversifier for GBFH?
Reasonably. At 0.34, GBFH and GRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/gbfh-vs-grn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gbfh-vs-grn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBFH correlations · GRN correlations
