GJO vs PACB: Correlation
How closely do Synthetic Fixed-Income Securities, Inc. on behalf of (GJO) and Pacific Biosciences of California, Inc. (PACB) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJO and PACB?
Across a 3-year window, the weekly returns of GJO and PACB correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.13, with an annualized covariance of -136.3 %².
PACB is close to the least connected end of GJO's tracked universe, ranking #12 of 16. Over the last 12 months PACB came out ahead by 13.9 percentage points (+2.6% against +16.5%). One caveat on sizing: PACB is 13.5 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.
GJO vs PACB: side by side
| GJO (Synthetic Fixed-Income Securities, Inc. on behalf of) | PACB (Pacific Biosciences of California, Inc.) | |
|---|---|---|
| 1-year return | +2.6% | +16.5% |
| 5-year return | +27.3% | -94.9% |
| Volatility (ann.) | 6.9% | 93.3% |
| Beta vs S&P 500 | 0.02 | 1.21 |
| Max drawdown (3Y) | -3.2% | -92.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJO | PACB |
|---|---|---|
| 2022 | +1.6% | -60.0% |
| 2023 | +10.3% | +19.9% |
| 2024 | +5.2% | -81.3% |
| 2025 | +5.6% | +2.2% |
| 2026 | +1.4% | -17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJO and PACB good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between GJO and PACB?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.19 over the last year and -0.13 over 5 years.
Is PACB a good diversifier for GJO?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/gjo-vs-pacb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gjo-vs-pacb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GJO correlations · PACB correlations
