BZFD vs PIII: Correlation
How closely do BuzzFeed, Inc. (BZFD) and P3 Health Partners Inc. (PIII) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZFD and PIII?
Across a 3-year window, the weekly returns of BZFD and PIII correlate at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.44 over 3 years. Stretching to 5 years gives 0.19, with an annualized covariance of 6712.3 %².
PIII is one of the assets that tracks BZFD most closely: it ranks #3 out of the 11 assets we track against BZFD. Correlation aside, the last 12 months split them widely, with PIII ahead by 63.8 points (-44.2% versus +19.6%). One caveat on sizing: PIII is 1.6 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.
BZFD vs PIII: side by side
| BZFD (BuzzFeed, Inc.) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -44.2% | +19.6% |
| 5-year return | -97.2% | -98.1% |
| Volatility (ann.) | 98.8% | 154.4% |
| Beta vs S&P 500 | 2.00 | 0.52 |
| Max drawdown (3Y) | -89.4% | -98.9% |
| Market cap | $0.1B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BZFD | PIII |
|---|---|---|
| 2022 | -87.1% | -73.9% |
| 2023 | -63.8% | -23.4% |
| 2024 | +167.0% | -84.0% |
| 2025 | -65.2% | -69.0% |
| 2026 | +19.4% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZFD and PIII good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BZFD and PIII?
As of 2026-08-27, the correlation of weekly returns between BZFD and PIII is 0.44 over 3 years, 0.70 over 1 year and 0.19 over 5 years.
Is PIII a good diversifier for BZFD?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/bzfd-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bzfd-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BZFD correlations · PIII correlations
