GLRE vs. BH
GLRE (Greenlight Capital Re, Ltd.) and BH (Biglari Holdings Inc.) are both stocks. GLRE operates in Insurance - Reinsurance (Financial Services), while BH operates in Restaurants (Consumer Cyclical). Over the past 10 years, GLRE returned -1.79%/yr vs 1.70%/yr for BH. At a 0.31 correlation, their price movements are largely independent.
Performance
GLRE vs. BH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLRE achieves a 9.53% return, which is significantly higher than BH's 1.07% return. Over the past 10 years, GLRE has underperformed BH with an annualized return of -1.79%, while BH has yielded a comparatively higher 1.70% annualized return.
GLRE
- 1D
- -0.62%
- 1M
- -7.10%
- YTD
- 9.53%
- 6M
- 10.29%
- 1Y
- 10.90%
- 3Y*
- 17.60%
- 5Y*
- 11.73%
- 10Y*
- -1.79%
BH
- 1D
- 0.98%
- 1M
- 21.32%
- YTD
- 1.07%
- 6M
- -5.02%
- 1Y
- 18.91%
- 3Y*
- 20.05%
- 5Y*
- 15.71%
- 10Y*
- 1.70%
GLRE vs. BH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLRE Greenlight Capital Re, Ltd. | 9.53% | 4.14% | 22.59% | 40.12% | 3.95% | 7.25% | -27.70% | 17.29% | -57.11% | -11.84% |
BH Biglari Holdings Inc. | 1.07% | 30.73% | 54.18% | 18.83% | -2.64% | 28.21% | -2.81% | 0.74% | -58.89% | -12.43% |
Correlation
The correlation between GLRE and BH is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 24, 2007 | 0.31 |
The correlation between GLRE and BH shifts across timeframes, from 0.19 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
Fundamentals
GLRE:
$2.37
BH:
-$8.05
GLRE:
0.77
BH:
1.97
GLRE:
$706.45M
BH:
$397.71M
GLRE:
$274.94M
BH:
$93.91M
GLRE:
$50.58M
BH:
$93.04M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLRE vs. BH — Risk / Return Rank
GLRE
BH
GLRE vs. BH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Greenlight Capital Re, Ltd. (GLRE) and Biglari Holdings Inc. (BH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLRE | BH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.12 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 0.40 | +0.09 |
| Martin ratioReturn relative to average drawdown | 1.00 | 0.87 | +0.12 |
Loading charts...
Drawdowns
GLRE vs. BH - Drawdown Comparison
The maximum GLRE drawdown since its inception was -85.00%, roughly equal to the maximum BH drawdown of -87.84%. Use the drawdown chart below to compare losses from any high point for GLRE and BH.
Loading charts...
Drawdown Indicators
| GLRE | BH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.00% | -87.84% | +2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -22.68% | -48.04% | +25.36% |
Max Drawdown (3Y)Largest decline over 3 years | -22.80% | -48.04% | +25.24% |
Max Drawdown (5Y)Largest decline over 5 years | -30.29% | -48.04% | +17.75% |
Max Drawdown (10Y)Largest decline over 10 years | -78.08% | -86.99% | +8.91% |
Current DrawdownCurrent decline from peak | -54.37% | -29.55% | -24.82% |
Average DrawdownAverage peak-to-trough decline | -42.26% | -31.14% | -11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.96% | 21.74% | -10.78% |
Volatility
GLRE vs. BH - Volatility Comparison
The current volatility for Greenlight Capital Re, Ltd. (GLRE) is 8.58%, while Biglari Holdings Inc. (BH) has a volatility of 9.56%. This indicates that GLRE experiences smaller price fluctuations and is considered to be less risky than BH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLRE | BH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 9.56% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 18.94% | 44.55% | -25.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.73% | 49.30% | -24.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.57% | 38.47% | -11.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.81% | 45.29% | -13.48% |
Dividends
GLRE vs. BH - Dividend Comparison
Neither GLRE nor BH has paid dividends to shareholders.
Financials
GLRE vs. BH - Financials Comparison
This section allows you to compare key financial metrics between Greenlight Capital Re, Ltd. and Biglari Holdings Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
GLRE vs. BH - Profitability Comparison
GLRE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported a gross profit of 0.00 and revenue of 189.66M. Therefore, the gross margin over that period was 0.0%.
BH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Biglari Holdings Inc. reported a gross profit of 0.00 and revenue of 97.48M. Therefore, the gross margin over that period was 0.0%.
GLRE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported an operating income of 0.00 and revenue of 189.66M, resulting in an operating margin of 0.0%.
BH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Biglari Holdings Inc. reported an operating income of 0.00 and revenue of 97.48M, resulting in an operating margin of 0.0%.
GLRE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Greenlight Capital Re, Ltd. reported a net income of 35.75M and revenue of 189.66M, resulting in a net margin of 18.9%.
BH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Biglari Holdings Inc. reported a net income of -14.53M and revenue of 97.48M, resulting in a net margin of -14.9%.
Frequently Asked Questions
GLRE and BH have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BH has higher volatility (9.56%) compared to GLRE (8.58%). In terms of maximum drawdown, GLRE dropped -85.00% vs BH's -87.84%.
GLRE currently has the higher Sharpe Ratio (0.44 vs 0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for GLRE and BH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer