GLAD vs IRDM: Correlation
Measured on weekly returns over the past three years, Gl (GLAD) and Iridium Communications Inc (IRDM) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLAD and IRDM?
Across a 3-year window, the weekly returns of GLAD and IRDM correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 414.1 %².
Among the 15 assets we track against GLAD, IRDM sits near the bottom by co-movement, at rank #12. The last year tells two different stories: IRDM led by 112.1 percentage points, -16.7% for GLAD against +95.4% for IRDM. Note the risk asymmetry: IRDM runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GLAD vs IRDM: side by side
| GLAD (Gl) | IRDM (Iridium Communications Inc) | |
|---|---|---|
| 1-year return | -16.7% | +95.4% |
| 5-year return | +32.9% | +8.5% |
| Volatility (ann.) | 22.7% | 49.3% |
| Beta vs S&P 500 | 0.75 | 0.85 |
| Max drawdown (3Y) | -39.6% | -67.5% |
| Market cap | $0.4B | $5.0B |
| P/E (trailing) | 9.3 | 54.1 |
| Dividend yield | 9.35% | 1.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLAD | IRDM |
|---|---|---|
| 2022 | -10.4% | +24.5% |
| 2023 | +22.7% | -19.1% |
| 2024 | +47.0% | -28.1% |
| 2025 | -21.1% | -38.5% |
| 2026 | +2.4% | +176.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLAD and IRDM good diversifiers for each other?
Reasonably. At 0.37, GLAD and IRDM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GLAD and IRDM?
The GLAD/IRDM correlation stands at 0.37 on a 3-year window (1 year: 0.43, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is IRDM a good diversifier for GLAD?
Reasonably. At 0.37, GLAD and IRDM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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: GLAD correlations · IRDM correlations
