GIBO vs NEGG: Correlation
How closely do GIBO Holdings Limited - Class A (GIBO) and Newegg Commerce, Inc. (NEGG) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIBO and NEGG?
Over the past 3 years, GIBO and NEGG moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.26). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -5656.3 %².
By 3-year correlation, NEGG places #25 of the 33 assets tracked against GIBO. On 12-month performance GIBO holds a 8.6-point edge, -62.4% against -71.0%. One caveat on sizing: NEGG is 1.6 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 NEGG: side by side
| GIBO (GIBO Holdings Limited - Class A) | NEGG (Newegg Commerce, Inc.) | |
|---|---|---|
| 1-year return | -62.4% | -71.0% |
| 5-year return | n/a | -95.1% |
| Volatility (ann.) | 116.5% | 184.2% |
| Beta vs S&P 500 | -0.40 | 2.34 |
| Max drawdown (3Y) | -100.0% | -90.3% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | 68.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GIBO | NEGG |
|---|---|---|
| 2022 | – | -87.4% |
| 2023 | – | -3.8% |
| 2024 | +7.8% | -68.3% |
| 2025 | -99.9% | +534.5% |
| 2026 | -38.3% | -65.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIBO and NEGG good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GIBO and NEGG?
The GIBO/NEGG correlation stands at -0.26 on a 3-year window (1 year: 0.06, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NEGG a good diversifier for GIBO?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/gibo-vs-negg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gibo-vs-negg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GIBO correlations · NEGG correlations
