GHC vs WINA: Correlation
Measured on weekly returns over the past three years, Graham Holdings Company (GHC) and Winmark Corporation (WINA) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GHC and WINA?
Across a 3-year window, the weekly returns of GHC and WINA correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.44, with an annualized covariance of 415.3 %².
Among the 16 assets we track against GHC, WINA ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GHC ahead by 29.5 points (+5.2% versus -24.3%).
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 WINA: side by side
| GHC (Graham Holdings Company) | WINA (Winmark Corporation) | |
|---|---|---|
| 1-year return | +5.2% | -24.3% |
| 5-year return | +94.6% | +89.5% |
| Volatility (ann.) | 26.8% | 35.4% |
| Beta vs S&P 500 | 0.78 | 0.47 |
| Max drawdown (3Y) | -19.8% | -34.0% |
| Market cap | $4.8B | $1.2B |
| P/E (trailing) | 9.2 | 30.4 |
| Dividend yield | 0.63% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GHC | WINA |
|---|---|---|
| 2022 | -3.0% | -2.8% |
| 2023 | +16.6% | +82.6% |
| 2024 | +26.3% | -3.3% |
| 2025 | +27.0% | +6.4% |
| 2026 | +4.5% | -16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GHC and WINA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GHC and WINA?
The GHC/WINA correlation stands at 0.44 on a 3-year window (1 year: 0.44, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is WINA a good diversifier for GHC?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: GHC correlations · WINA correlations
