GIS vs MAN: Correlation
Measured on weekly returns over the past three years, General Mills (GIS) and ManpowerGroup (MAN) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIS and MAN?
Across a 3-year window, the weekly returns of GIS and MAN correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 377.7 %².
Among the 38 assets we track against GIS, MAN ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MAN ahead by 68.9 points (-12.8% versus +56.1%). One caveat on sizing: MAN is 2.2 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.
GIS vs MAN: side by side
| GIS (General Mills) | MAN (ManpowerGroup) | |
|---|---|---|
| 1-year return | -12.8% | +56.1% |
| 5-year return | -14.6% | -37.6% |
| Volatility (ann.) | 20.6% | 44.3% |
| Beta vs S&P 500 | -0.05 | 0.79 |
| Max drawdown (3Y) | -53.4% | -64.7% |
| Market cap | $21.6B | $2.9B |
| P/E (trailing) | – | 27.9 |
| Dividend yield | 6.09% | 2.32% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | GIS | MAN |
|---|---|---|
| 2022 | +28.1% | -11.8% |
| 2023 | -20.0% | -0.6% |
| 2024 | +1.4% | -24.0% |
| 2025 | -23.7% | -46.2% |
| 2026 | -8.8% | +114.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIS and MAN good diversifiers for each other?
Reasonably. At 0.41, GIS and MAN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GIS and MAN?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.46 over the last year and 0.27 over 5 years.
Is MAN a good diversifier for GIS?
Reasonably. At 0.41, GIS and MAN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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/gis-vs-man.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gis-vs-man/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GIS correlations · MAN correlations
