GIC vs SSBI: Correlation
Measured on weekly returns over the past three years, Global Industrial Company (GIC) and Summit State Bank (SSBI) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIC and SSBI?
Across a 3-year window, the weekly returns of GIC and SSBI correlate at 0.33, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.49 versus 0.33 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 444.2 %².
SSBI is close to the least connected end of GIC's tracked universe, ranking #10 of 14. Twelve-month performance is nearly a tie, at +8.7% for GIC and +6.8% for SSBI.
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.
GIC vs SSBI: side by side
| GIC (Global Industrial Company) | SSBI (Summit State Bank) | |
|---|---|---|
| 1-year return | +8.7% | +6.8% |
| 5-year return | +21.2% | -2.9% |
| Volatility (ann.) | 35.8% | 37.6% |
| Beta vs S&P 500 | 0.84 | 0.24 |
| Max drawdown (3Y) | -53.2% | -60.6% |
| Market cap | $1.5B | $0.1B |
| P/E (trailing) | 17.8 | 39.0 |
| Dividend yield | 2.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GIC | SSBI |
|---|---|---|
| 2022 | -41.0% | +5.2% |
| 2023 | +69.7% | -19.6% |
| 2024 | -34.3% | -35.9% |
| 2025 | +22.4% | +52.0% |
| 2026 | +39.1% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIC and SSBI good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GIC and SSBI?
The GIC/SSBI correlation stands at 0.33 on a 3-year window (1 year: 0.49, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is SSBI a good diversifier for GIC?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gic-vs-ssbi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gic-vs-ssbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GIC correlations · SSBI correlations
