AIIO vs PIII: Correlation
How closely do Robo.ai Inc. - Class B (AIIO) and P3 Health Partners Inc. (PIII) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIIO and PIII?
On 3 years of weekly data the AIIO/PIII correlation comes out at 0.61, strong. The link has tightened recently: the 1-year correlation (0.89) runs above the 3-year figure (0.61). The 5-year figure is 0.54, and annualized covariance runs at 26309.6 %².
In AIIO's tracked universe of 35 assets, PIII sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months PIII outperformed by 110.9 percentage points (-91.3% for AIIO against +19.6% for PIII). Note the risk asymmetry: AIIO runs 1.8 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.
AIIO vs PIII: side by side
| AIIO (Robo.ai Inc. - Class B) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -91.3% | +19.6% |
| 5-year return | -98.8% | -98.1% |
| Volatility (ann.) | 280.6% | 154.4% |
| Beta vs S&P 500 | 0.74 | 0.52 |
| Max drawdown (3Y) | -99.7% | -98.9% |
| Market cap | $0.4B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIIO | PIII |
|---|---|---|
| 2022 | -9.2% | -73.9% |
| 2023 | -27.5% | -23.4% |
| 2024 | -91.0% | -84.0% |
| 2025 | -56.6% | -69.0% |
| 2026 | -61.3% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIIO and PIII good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIIO and PIII?
As of 2026-08-27, the correlation of weekly returns between AIIO and PIII is 0.61 over 3 years, 0.89 over 1 year and 0.54 over 5 years.
Is PIII a good diversifier for AIIO?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aiio-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aiio-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIIO correlations · PIII correlations
