GLRE vs KVHI: Correlation
Greenlight Reinsurance, Ltd. - Class A (GLRE) and KVH Industries, Inc. (KVHI) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLRE and KVHI?
Across a 3-year window, the weekly returns of GLRE and KVHI correlate at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Stretching to 5 years gives 0.26, with an annualized covariance of 313.7 %².
Within GLRE's tracked universe of 11 assets, KVHI comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KVHI ahead by 21.3 points (+18.6% versus +39.9%). Risk is not evenly split, since KVHI carries 1.7 times the volatility of the other side.
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.
GLRE vs KVHI: side by side
| GLRE (Greenlight Reinsurance, Ltd. - Class A) | KVHI (KVH Industries, Inc.) | |
|---|---|---|
| 1-year return | +18.6% | +39.9% |
| 5-year return | +84.1% | -25.9% |
| Volatility (ann.) | 24.0% | 41.7% |
| Beta vs S&P 500 | 0.33 | 0.20 |
| Max drawdown (3Y) | -22.8% | -35.9% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLRE | KVHI |
|---|---|---|
| 2022 | +4.0% | +11.2% |
| 2023 | +40.1% | -48.5% |
| 2024 | +22.6% | +8.4% |
| 2025 | +4.1% | +22.3% |
| 2026 | +5.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLRE and KVHI good diversifiers for each other?
Reasonably. At 0.31, GLRE and KVHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GLRE and KVHI?
The GLRE/KVHI correlation stands at 0.31 on a 3-year window (1 year: 0.37, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is KVHI a good diversifier for GLRE?
Reasonably. At 0.31, GLRE and KVHI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/glre-vs-kvhi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/glre-vs-kvhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLRE correlations · KVHI correlations
