GRBK vs SHW: Correlation
Measured on weekly returns over the past three years, Green Brick Partners, Inc. (GRBK) and Sherwin-Williams (SHW) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRBK and SHW?
Across a 3-year window, the weekly returns of GRBK and SHW correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 602.4 %².
By 3-year correlation, SHW places #13 of the 27 assets tracked against GRBK. On 12-month performance GRBK holds a 9.6-point edge, +4.5% against -5.1%. Note the risk asymmetry: GRBK runs 1.5 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.
GRBK vs SHW: side by side
| GRBK (Green Brick Partners, Inc.) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | +4.5% | -5.1% |
| 5-year return | +186.8% | +18.3% |
| Volatility (ann.) | 37.3% | 24.6% |
| Beta vs S&P 500 | 1.07 | 0.79 |
| Max drawdown (3Y) | -36.1% | -25.7% |
| Market cap | $3.1B | $83.8B |
| P/E (trailing) | 11.1 | 31.8 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | GRBK | SHW |
|---|---|---|
| 2022 | -20.1% | -32.0% |
| 2023 | +114.4% | +32.7% |
| 2024 | +8.8% | +9.9% |
| 2025 | +10.9% | -3.8% |
| 2026 | +16.2% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRBK and SHW good diversifiers for each other?
Only partially. A correlation of 0.66 means GRBK and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GRBK and SHW?
As of 2026-08-27, the correlation of weekly returns between GRBK and SHW is 0.66 over 3 years, 0.62 over 1 year and 0.59 over 5 years.
Is SHW a good diversifier for GRBK?
Only partially. A correlation of 0.66 means GRBK and SHW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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
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[](https://www.pairbook.io/pair/grbk-vs-shw/)
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Related comparisons
Hubs: GRBK correlations · SHW correlations
