GIBO vs HCA: Correlation
How closely do GIBO Holdings Limited - Class A (GIBO) and HCA Healthcare (HCA) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIBO and HCA?
Across a 3-year window, the weekly returns of GIBO and HCA correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.17 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -613.4 %².
Among the 33 assets we track against GIBO, HCA ranks #14 by 3-year correlation. The last year tells two different stories: HCA led by 66.6 percentage points, -62.4% for GIBO against +4.2% for HCA. One caveat on sizing: GIBO is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GIBO vs HCA: side by side
| GIBO (GIBO Holdings Limited - Class A) | HCA (HCA Healthcare) | |
|---|---|---|
| 1-year return | -62.4% | +4.2% |
| 5-year return | n/a | +72.5% |
| Volatility (ann.) | 116.5% | 26.9% |
| Beta vs S&P 500 | -0.40 | 0.42 |
| Max drawdown (3Y) | -100.0% | -33.6% |
| Market cap | $0.1B | $90.8B |
| P/E (trailing) | – | 14.1 |
| Dividend yield | 0.00% | 0.70% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GIBO | HCA |
|---|---|---|
| 2022 | – | -5.6% |
| 2023 | – | +13.8% |
| 2024 | +7.8% | +11.8% |
| 2025 | -99.9% | +56.7% |
| 2026 | -38.3% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIBO and HCA good diversifiers for each other?
Yes. With a correlation of -0.20, GIBO and HCA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GIBO and HCA?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.17 over the last year and n/a over 5 years.
Is HCA a good diversifier for GIBO?
Yes. With a correlation of -0.20, GIBO and HCA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GIBO correlations · HCA correlations
