GBFH vs TOP: Correlation
How closely do GBank Financial Holdings Inc. (GBFH) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBFH and TOP?
Over the past 3 years, GBFH and TOP moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.62) than the 3-year average (-0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -5357.3 %².
Out of 18 assets tracked against GBFH, TOP lands near the bottom at #16. The last year tells two different stories: TOP led by 1268.4 percentage points, -50.5% for GBFH against +1217.9% for TOP. Risk is not evenly split, since TOP carries 4.7 times the volatility of the other side.
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 TOP: side by side
| GBFH (GBank Financial Holdings Inc.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -50.5% | +1217.9% |
| 5-year return | n/a | -9.2% |
| Volatility (ann.) | 49.3% | 230.2% |
| Beta vs S&P 500 | 1.11 | 1.60 |
| Max drawdown (3Y) | -53.8% | -89.6% |
| Market cap | $0.3B | $1.9B |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBFH | TOP |
|---|---|---|
| 2023 | – | -22.5% |
| 2024 | – | -59.5% |
| 2025 | -21.2% | -34.3% |
| 2026 | -40.0% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBFH and TOP good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GBFH and TOP?
As of 2026-08-27, the correlation of weekly returns between GBFH and TOP is -0.42 over 3 years, -0.62 over 1 year and n/a over 5 years.
Is TOP a good diversifier for GBFH?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gbfh-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gbfh-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GBFH correlations · TOP correlations
