GIGM vs GRAB: Correlation
Measured on weekly returns over the past three years, GigaMedia Limited (GIGM) and Grab Holdings Limited - Class A (GRAB) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIGM and GRAB?
Over the past 3 years, GIGM and GRAB moved with a correlation of 0.32, which is moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.32). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 311.5 %².
Among the 10 assets we track against GIGM, GRAB ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GIGM ahead by 19.3 points (-8.2% versus -27.5%).
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.
GIGM vs GRAB: side by side
| GIGM (GigaMedia Limited) | GRAB (Grab Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | -8.2% | -27.5% |
| 5-year return | -44.2% | -65.8% |
| Volatility (ann.) | 25.6% | 37.6% |
| Beta vs S&P 500 | 0.27 | 1.41 |
| Max drawdown (3Y) | -29.6% | -49.3% |
| Market cap | – | $14.7B |
| P/E (trailing) | – | 32.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GIGM | GRAB |
|---|---|---|
| 2022 | -46.2% | -54.8% |
| 2023 | +14.9% | +4.7% |
| 2024 | +11.5% | +40.1% |
| 2025 | -1.9% | +5.7% |
| 2026 | -4.6% | -28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIGM and GRAB good diversifiers for each other?
Reasonably. At 0.32, GIGM and GRAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GIGM and GRAB?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.57 over the last year and 0.22 over 5 years.
Is GRAB a good diversifier for GIGM?
Reasonably. At 0.32, GIGM and GRAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 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.
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Related comparisons
Hubs: GIGM correlations · GRAB correlations
