GBLI vs IDXX: Correlation
Measured on weekly returns over the past three years, Global Indemnity Group, LLC - Class A (GBLI) and Idexx Laboratories (IDXX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBLI and IDXX?
Over the past 3 years, GBLI and IDXX moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.19 over 3 years. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -133.3 %².
Within GBLI's tracked universe of 20 assets, IDXX comes in at #10 by 3-year correlation. The last year tells two different stories: GBLI led by 18.7 percentage points, +3.8% for GBLI against -14.9% for IDXX.
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.
GBLI vs IDXX: side by side
| GBLI (Global Indemnity Group, LLC - Class A) | IDXX (Idexx Laboratories) | |
|---|---|---|
| 1-year return | +3.8% | -14.9% |
| 5-year return | +37.0% | -20.7% |
| Volatility (ann.) | 22.2% | 30.9% |
| Beta vs S&P 500 | 0.09 | 1.01 |
| Max drawdown (3Y) | -28.4% | -37.4% |
| Market cap | $0.4B | $42.9B |
| P/E (trailing) | 12.1 | 38.9 |
| Dividend yield | 4.89% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GBLI | IDXX |
|---|---|---|
| 2022 | -3.4% | -38.0% |
| 2023 | +42.8% | +36.1% |
| 2024 | +16.6% | -25.5% |
| 2025 | -17.6% | +63.6% |
| 2026 | +4.9% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBLI and IDXX good diversifiers for each other?
Yes. With a correlation of -0.19, GBLI and IDXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GBLI and IDXX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.03 over the last year and -0.02 over 5 years.
Is IDXX a good diversifier for GBLI?
Yes. With a correlation of -0.19, GBLI and IDXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/gbli-vs-idxx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gbli-vs-idxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GBLI correlations · IDXX correlations
