GHC vs NATH: Correlation
Measured on weekly returns over the past three years, Graham Holdings Company (GHC) and Nathan's Famous, Inc. (NATH) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GHC and NATH?
Across a 3-year window, the weekly returns of GHC and NATH correlate at 0.46, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.46). Stretching to 5 years gives 0.39, with an annualized covariance of 309.2 %².
By 3-year correlation, NATH places #8 of the 16 assets tracked against GHC. Over the last 12 months GHC came out ahead by 10.7 percentage points (+5.2% against -5.5%).
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 NATH: side by side
| GHC (Graham Holdings Company) | NATH (Nathan's Famous, Inc.) | |
|---|---|---|
| 1-year return | +5.2% | -5.5% |
| 5-year return | +94.6% | +68.7% |
| Volatility (ann.) | 26.8% | 25.3% |
| Beta vs S&P 500 | 0.78 | 0.50 |
| Max drawdown (3Y) | -19.8% | -19.5% |
| Market cap | $4.8B | $0.4B |
| P/E (trailing) | 9.2 | 20.2 |
| Dividend yield | 0.63% | 2.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GHC | NATH |
|---|---|---|
| 2022 | -3.0% | +18.7% |
| 2023 | +16.6% | +19.2% |
| 2024 | +26.3% | +3.5% |
| 2025 | +27.0% | +24.6% |
| 2026 | +4.5% | +5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GHC and NATH good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GHC and NATH?
The GHC/NATH correlation stands at 0.46 on a 3-year window (1 year: 0.36, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is NATH a good diversifier for GHC?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/ghc-vs-nath.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ghc-vs-nath/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GHC correlations · NATH correlations
