GHC vs IBOC: Correlation
Measured on weekly returns over the past three years, Graham Holdings Company (GHC) and International Bancshares Corporation (IBOC) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GHC and IBOC?
On 3 years of weekly data the GHC/IBOC correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.63 over 3 years. The 5-year figure is 0.58, and annualized covariance runs at 455.5 %².
By 3-year correlation, IBOC places #4 of the 16 assets tracked against GHC. The trailing year gives GHC the advantage: +5.2% versus -0.9%, a 6.1-point spread.
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.
GHC vs IBOC: side by side
| GHC (Graham Holdings Company) | IBOC (International Bancshares Corporation) | |
|---|---|---|
| 1-year return | +5.2% | -0.9% |
| 5-year return | +94.6% | +91.3% |
| Volatility (ann.) | 26.8% | 26.9% |
| Beta vs S&P 500 | 0.78 | 0.77 |
| Max drawdown (3Y) | -19.8% | -24.1% |
| Market cap | $4.8B | $4.4B |
| P/E (trailing) | 9.2 | 10.7 |
| Dividend yield | 0.63% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GHC | IBOC |
|---|---|---|
| 2022 | -3.0% | +10.9% |
| 2023 | +16.6% | +22.0% |
| 2024 | +26.3% | +19.1% |
| 2025 | +27.0% | +7.4% |
| 2026 | +4.5% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GHC and IBOC good diversifiers for each other?
To a limited degree. At 0.63 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 GHC and IBOC?
The GHC/IBOC correlation stands at 0.63 on a 3-year window (1 year: 0.48, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is IBOC a good diversifier for GHC?
To a limited degree. At 0.63 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 0.63 mean?
On the −1 to +1 scale, 0.63 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/ghc-vs-iboc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ghc-vs-iboc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GHC correlations · IBOC correlations
