GVH vs REFR: Correlation
Globavend Holdings Limited - Ord Shares (GVH) and Research Frontiers Incorporated (REFR) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVH and REFR?
On 3 years of weekly data the GVH/REFR correlation comes out at 0.32, moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.32 over 3. The 5-year figure is n/a, and annualized covariance runs at 3612.1 %².
By 3-year correlation, REFR places #4 of the 15 assets tracked against GVH. On 12-month performance REFR holds a 12.4-point edge, -77.8% against -65.4%. One caveat on sizing: GVH is 2.4 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.
GVH vs REFR: side by side
| GVH (Globavend Holdings Limited - Ord Shares) | REFR (Research Frontiers Incorporated) | |
|---|---|---|
| 1-year return | -77.8% | -65.4% |
| 5-year return | n/a | -78.3% |
| Volatility (ann.) | 162.4% | 68.5% |
| Beta vs S&P 500 | 1.17 | 0.52 |
| Max drawdown (3Y) | -99.8% | -83.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GVH | REFR |
|---|---|---|
| 2022 | – | +11.0% |
| 2023 | – | -47.1% |
| 2024 | -57.5% | +69.3% |
| 2025 | -98.9% | -23.4% |
| 2026 | -29.9% | -63.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVH and REFR good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GVH and REFR?
The GVH/REFR correlation stands at 0.32 on a 3-year window (1 year: 0.27, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is REFR a good diversifier for GVH?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
A reading of 0.32 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/gvh-vs-refr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gvh-vs-refr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GVH correlations · REFR correlations
