GIBO vs INBK: Correlation
Measured on weekly returns over the past three years, GIBO Holdings Limited - Class A (GIBO) and First Internet Bancorp (INBK) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIBO and INBK?
Over the past 3 years, GIBO and INBK moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.13 versus -0.23 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1167.8 %².
By 3-year correlation, INBK places #20 of the 33 assets tracked against GIBO. Correlation aside, the last 12 months split them widely, with INBK ahead by 71.9 points (-62.4% versus +9.5%). Note the risk asymmetry: GIBO runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 INBK: side by side
| GIBO (GIBO Holdings Limited - Class A) | INBK (First Internet Bancorp) | |
|---|---|---|
| 1-year return | -62.4% | +9.5% |
| 5-year return | n/a | -3.5% |
| Volatility (ann.) | 116.5% | 43.2% |
| Beta vs S&P 500 | -0.40 | 0.96 |
| Max drawdown (3Y) | -100.0% | -59.0% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GIBO | INBK |
|---|---|---|
| 2022 | – | -48.0% |
| 2023 | – | +1.0% |
| 2024 | +7.8% | +49.9% |
| 2025 | -99.9% | -41.4% |
| 2026 | -38.3% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIBO and INBK good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GIBO and INBK?
As of 2026-08-27, the correlation of weekly returns between GIBO and INBK is -0.23 over 3 years, 0.13 over 1 year and n/a over 5 years.
Is INBK a good diversifier for GIBO?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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
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Related comparisons
Hubs: GIBO correlations · INBK correlations
