AGRO vs GRDX: Correlation
Measured on weekly returns over the past three years, Adecoagro S.A. (AGRO) and GridAI Technologies Corp. (GRDX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and GRDX?
On 3 years of weekly data the AGRO/GRDX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.22 over 3. The 5-year figure is -0.11, and annualized covariance runs at -1428.3 %².
Among the 36 assets we track against AGRO, GRDX ranks #23 by 3-year correlation. The last year tells two different stories: GRDX led by 81.8 percentage points, +28.1% for AGRO against +109.9% for GRDX. One caveat on sizing: GRDX is 3.8 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.
AGRO vs GRDX: side by side
| AGRO (Adecoagro S.A.) | GRDX (GridAI Technologies Corp.) | |
|---|---|---|
| 1-year return | +28.1% | +109.9% |
| 5-year return | +29.1% | -100.0% |
| Volatility (ann.) | 41.7% | 157.9% |
| Beta vs S&P 500 | -0.27 | 1.09 |
| Max drawdown (3Y) | -41.3% | -97.7% |
| Market cap | $1.5B | – |
| P/E (trailing) | 28.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGRO | GRDX |
|---|---|---|
| 2022 | +11.5% | -98.0% |
| 2023 | +38.6% | -96.6% |
| 2024 | -12.4% | -85.2% |
| 2025 | -14.3% | +149.7% |
| 2026 | +36.0% | -13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and GRDX good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGRO and GRDX?
As of 2026-08-27, the correlation of weekly returns between AGRO and GRDX is -0.22 over 3 years, -0.30 over 1 year and -0.11 over 5 years.
Is GRDX a good diversifier for AGRO?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/agro-vs-grdx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agro-vs-grdx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGRO correlations · GRDX correlations
