GCL vs IVVD: Correlation
Measured on weekly returns over the past three years, GCL Global Holdings Ltd (GCL) and Invivyd, Inc. (IVVD) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCL and IVVD?
Over the past 3 years, GCL and IVVD moved with a correlation of 0.28, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.28 over 3 years. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 7419.2 %².
Within GCL's tracked universe of 10 assets, IVVD comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IVVD ahead by 84.3 points (-81.0% versus +3.3%). Risk is not evenly split, since IVVD carries 3.6 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.
GCL vs IVVD: side by side
| GCL (GCL Global Holdings Ltd) | IVVD (Invivyd, Inc.) | |
|---|---|---|
| 1-year return | -81.0% | +3.3% |
| 5-year return | -93.2% | -97.2% |
| Volatility (ann.) | 85.9% | 305.9% |
| Beta vs S&P 500 | 0.21 | 1.87 |
| Max drawdown (3Y) | -96.7% | -92.9% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCL | IVVD |
|---|---|---|
| 2022 | – | -79.3% |
| 2023 | +6.1% | +162.7% |
| 2024 | +6.9% | -88.8% |
| 2025 | -90.7% | +457.6% |
| 2026 | -36.9% | -63.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCL and IVVD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GCL and IVVD?
The GCL/IVVD correlation stands at 0.28 on a 3-year window (1 year: 0.15, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is IVVD a good diversifier for GCL?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 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.
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Related comparisons
Hubs: GCL correlations · IVVD correlations
