GBLI vs OVBC: Correlation
How closely do Global Indemnity Group, LLC - Class A (GBLI) and Ohio Valley Banc Corp. (OVBC) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBLI and OVBC?
Over the past 3 years, GBLI and OVBC moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.22). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -159.6 %².
Among the 20 assets we track against GBLI, OVBC ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OVBC outperformed by 24.0 percentage points (+3.8% for GBLI against +27.8% for OVBC).
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 OVBC: side by side
| GBLI (Global Indemnity Group, LLC - Class A) | OVBC (Ohio Valley Banc Corp.) | |
|---|---|---|
| 1-year return | +3.8% | +27.8% |
| 5-year return | +37.0% | +98.0% |
| Volatility (ann.) | 22.2% | 32.1% |
| Beta vs S&P 500 | 0.09 | 0.12 |
| Max drawdown (3Y) | -28.4% | -26.2% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | 12.1 | 15.1 |
| Dividend yield | 4.89% | 2.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBLI | OVBC |
|---|---|---|
| 2022 | -3.4% | -7.8% |
| 2023 | +42.8% | -9.3% |
| 2024 | +16.6% | +9.3% |
| 2025 | -17.6% | +70.0% |
| 2026 | +4.9% | +15.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBLI and OVBC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between GBLI and OVBC?
As of 2026-08-27, the correlation of weekly returns between GBLI and OVBC is -0.22 over 3 years, -0.11 over 1 year and -0.10 over 5 years.
Is OVBC a good diversifier for GBLI?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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: GBLI correlations · OVBC correlations
