AWR vs GRCE: Correlation
How closely do American States Water Company (AWR) and Grace Therapeutics, Inc. (GRCE) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWR and GRCE?
Across a 3-year window, the weekly returns of AWR and GRCE correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -388.0 %².
Among the 16 assets we track against AWR, GRCE sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with AWR ahead by 51.1 points (+21.5% versus -29.6%). Note the risk asymmetry: GRCE runs 3.8 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.
AWR vs GRCE: side by side
| AWR (American States Water Company) | GRCE (Grace Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +21.5% | -29.6% |
| 5-year return | +7.6% | -88.8% |
| Volatility (ann.) | 20.8% | 78.2% |
| Beta vs S&P 500 | 0.04 | 0.95 |
| Max drawdown (3Y) | -21.9% | -60.0% |
| Market cap | $3.5B | – |
| P/E (trailing) | 24.3 | – |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWR | GRCE |
|---|---|---|
| 2022 | -8.9% | -60.3% |
| 2023 | -11.4% | -3.7% |
| 2024 | -1.2% | +29.4% |
| 2025 | -4.3% | -7.5% |
| 2026 | +25.1% | -37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWR and GRCE good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AWR and GRCE?
As of 2026-08-27, the correlation of weekly returns between AWR and GRCE is -0.24 over 3 years, -0.25 over 1 year and -0.14 over 5 years.
Is GRCE a good diversifier for AWR?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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.
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Related comparisons
Hubs: AWR correlations · GRCE correlations
