GDYN vs GLOB: Correlation
How closely do Grid Dynamics Holdings, Inc. (GDYN) and Globant S.A. (GLOB) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDYN and GLOB?
Over the past 3 years, GDYN and GLOB moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1490.6 %².
GLOB is one of the assets that tracks GDYN most closely: it ranks #3 out of the 16 assets we track against GDYN. Their recent paths diverged sharply: over the last 12 months GDYN outperformed by 38.6 percentage points (-2.2% for GDYN against -40.8% for GLOB).
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 GLOB: side by side
| GDYN (Grid Dynamics Holdings, Inc.) | GLOB (Globant S.A.) | |
|---|---|---|
| 1-year return | -2.2% | -40.8% |
| 5-year return | -70.4% | -87.5% |
| Volatility (ann.) | 48.4% | 50.9% |
| Beta vs S&P 500 | 1.54 | 1.27 |
| Max drawdown (3Y) | -78.3% | -88.9% |
| Market cap | $0.6B | $1.7B |
| P/E (trailing) | 263.0 | 15.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDYN | GLOB |
|---|---|---|
| 2022 | -70.5% | -46.5% |
| 2023 | +18.8% | +41.5% |
| 2024 | +66.8% | -9.9% |
| 2025 | -59.4% | -69.5% |
| 2026 | -12.6% | -38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDYN and GLOB good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GDYN and GLOB?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.64 over the last year and 0.53 over 5 years.
Is GLOB a good diversifier for GDYN?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
A reading of 0.61 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/gdyn-vs-glob.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdyn-vs-glob/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GDYN correlations · GLOB correlations
