GVA vs JAKK: Correlation
Measured on weekly returns over the past three years, Granite Construction Incorporated (GVA) and JAKKS Pacific, Inc. (JAKK) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVA and JAKK?
Across a 3-year window, the weekly returns of GVA and JAKK correlate at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.47). Stretching to 5 years gives 0.35, with an annualized covariance of 902.2 %².
Among the 14 assets we track against GVA, JAKK ranks #8 by 3-year correlation. The last year tells two different stories: JAKK led by 35.0 percentage points, +13.9% for GVA against +48.9% for JAKK. Note the risk asymmetry: JAKK 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.
GVA vs JAKK: side by side
| GVA (Granite Construction Incorporated) | JAKK (JAKKS Pacific, Inc.) | |
|---|---|---|
| 1-year return | +13.9% | +48.9% |
| 5-year return | +219.9% | +96.2% |
| Volatility (ann.) | 35.5% | 54.5% |
| Beta vs S&P 500 | 1.13 | 1.20 |
| Max drawdown (3Y) | -29.1% | -57.3% |
| Market cap | $5.5B | $0.3B |
| P/E (trailing) | – | 18.2 |
| Dividend yield | 0.42% | 3.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GVA | JAKK |
|---|---|---|
| 2022 | -7.8% | +72.1% |
| 2023 | +46.8% | +103.3% |
| 2024 | +73.8% | -20.8% |
| 2025 | +32.2% | -36.9% |
| 2026 | +8.3% | +55.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVA and JAKK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GVA and JAKK?
The GVA/JAKK correlation stands at 0.47 on a 3-year window (1 year: 0.31, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is JAKK a good diversifier for GVA?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GVA correlations · JAKK correlations
