GDYN vs IT: Correlation
How closely do Grid Dynamics Holdings, Inc. (GDYN) and Gartner (IT) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDYN and IT?
Across a 3-year window, the weekly returns of GDYN and IT correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 1030.4 %².
Among the 16 assets we track against GDYN, IT ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GDYN outperformed by 18.0 percentage points (-2.2% for GDYN against -20.2% for IT).
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 IT: side by side
| GDYN (Grid Dynamics Holdings, Inc.) | IT (Gartner) | |
|---|---|---|
| 1-year return | -2.2% | -20.2% |
| 5-year return | -70.4% | -36.0% |
| Volatility (ann.) | 48.4% | 40.6% |
| Beta vs S&P 500 | 1.54 | 0.92 |
| Max drawdown (3Y) | -78.3% | -77.2% |
| Market cap | $0.6B | $12.4B |
| P/E (trailing) | 263.0 | 17.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | GDYN | IT |
|---|---|---|
| 2022 | -70.5% | +0.5% |
| 2023 | +18.8% | +34.2% |
| 2024 | +66.8% | +7.4% |
| 2025 | -59.4% | -47.9% |
| 2026 | -12.6% | -22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDYN and IT good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GDYN and IT?
As of 2026-08-27, the correlation of weekly returns between GDYN and IT is 0.52 over 3 years, 0.59 over 1 year and 0.40 over 5 years.
Is IT a good diversifier for GDYN?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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-it.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: GDYN correlations · IT correlations
