GBX vs WASH: Correlation
Measured on weekly returns over the past three years, Greenbrier Companies, Inc. (The) (GBX) and Washington Trust Bancorp, Inc. (WASH) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBX and WASH?
Across a 3-year window, the weekly returns of GBX and WASH correlate at 0.55, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.55). Stretching to 5 years gives 0.42, with an annualized covariance of 697.7 %².
Among the 11 assets we track against GBX, WASH ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WASH ahead by 39.6 points (+0.5% versus +40.1%).
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.
GBX vs WASH: side by side
| GBX (Greenbrier Companies, Inc. (The)) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +0.5% | +40.1% |
| 5-year return | +19.2% | +4.8% |
| Volatility (ann.) | 36.2% | 34.9% |
| Beta vs S&P 500 | 0.71 | 1.04 |
| Max drawdown (3Y) | -43.7% | -32.3% |
| Market cap | $1.4B | $0.8B |
| P/E (trailing) | 13.6 | 13.7 |
| Dividend yield | 2.81% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBX | WASH |
|---|---|---|
| 2022 | -24.8% | -12.5% |
| 2023 | +36.3% | -26.1% |
| 2024 | +41.3% | +2.7% |
| 2025 | -21.3% | +1.7% |
| 2026 | +0.7% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBX and WASH good diversifiers for each other?
Only partially. A correlation of 0.55 means GBX and WASH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GBX and WASH?
The GBX/WASH correlation stands at 0.55 on a 3-year window (1 year: 0.40, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for GBX?
Only partially. A correlation of 0.55 means GBX and WASH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/gbx-vs-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gbx-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GBX correlations · WASH correlations
