GDYN vs GIB: Correlation
Measured on weekly returns over the past three years, Grid Dynamics Holdings, Inc. (GDYN) and CGI Inc. (GIB) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDYN and GIB?
On 3 years of weekly data the GDYN/GIB correlation comes out at 0.60, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 671.9 %².
Within GDYN's tracked universe of 16 assets, GIB comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GDYN ahead by 20.2 points (-2.2% versus -22.4%). Note the risk asymmetry: GDYN runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GDYN vs GIB: side by side
| GDYN (Grid Dynamics Holdings, Inc.) | GIB (CGI Inc.) | |
|---|---|---|
| 1-year return | -2.2% | -22.4% |
| 5-year return | -70.4% | -16.0% |
| Volatility (ann.) | 48.4% | 23.3% |
| Beta vs S&P 500 | 1.54 | 0.57 |
| Max drawdown (3Y) | -78.3% | -49.6% |
| Market cap | $0.6B | $15.4B |
| P/E (trailing) | 263.0 | 12.6 |
| Dividend yield | 0.00% | 0.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDYN | GIB |
|---|---|---|
| 2022 | -70.5% | -2.7% |
| 2023 | +18.8% | +24.5% |
| 2024 | +66.8% | +2.1% |
| 2025 | -59.4% | -15.3% |
| 2026 | -12.6% | -18.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDYN and GIB good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GDYN and GIB?
As of 2026-08-27, the correlation of weekly returns between GDYN and GIB is 0.60 over 3 years, 0.62 over 1 year and 0.49 over 5 years.
Is GIB a good diversifier for GDYN?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/gdyn-vs-gib.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdyn-vs-gib/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GDYN correlations · GIB correlations
