GIBO vs OTIS: Correlation
How closely do GIBO Holdings Limited - Class A (GIBO) and Otis Worldwide (OTIS) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIBO and OTIS?
On 3 years of weekly data the GIBO/OTIS correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.07) runs above the 3-year figure (-0.18). The 5-year figure is n/a, and annualized covariance runs at -398.5 %².
By 3-year correlation, OTIS places #11 of the 33 assets tracked against GIBO. Their recent paths diverged sharply: over the last 12 months OTIS outperformed by 45.6 percentage points (-62.4% for GIBO against -16.8% for OTIS). Risk is not evenly split, since GIBO carries 6.1 times the volatility of the other side.
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 OTIS: side by side
| GIBO (GIBO Holdings Limited - Class A) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | -62.4% | -16.8% |
| 5-year return | n/a | -15.9% |
| Volatility (ann.) | 116.5% | 19.1% |
| Beta vs S&P 500 | -0.40 | 0.59 |
| Max drawdown (3Y) | -100.0% | -32.4% |
| Market cap | $0.1B | $27.2B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 0.00% | 2.35% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GIBO | OTIS |
|---|---|---|
| 2022 | – | -8.8% |
| 2023 | – | +16.0% |
| 2024 | +7.8% | +5.2% |
| 2025 | -99.9% | -4.0% |
| 2026 | -38.3% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIBO and OTIS good diversifiers for each other?
Yes. With a correlation of -0.18, GIBO and OTIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GIBO and OTIS?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with 0.07 over the last year and n/a over 5 years.
Is OTIS a good diversifier for GIBO?
Yes. With a correlation of -0.18, GIBO and OTIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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 · OTIS correlations
