CDIO vs PRAA: Correlation
How closely do Cardio Diagnostics Holdings Inc. (CDIO) and PRA Group, Inc. (PRAA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDIO and PRAA?
Across a 3-year window, the weekly returns of CDIO and PRAA correlate at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 5111.5 %².
Few assets follow CDIO as closely as PRAA, which ranks #3 of 11 tracked partners. The last year tells two different stories: PRAA led by 63.0 percentage points, -50.1% for CDIO against +12.9% for PRAA. Note the risk asymmetry: CDIO runs 3.5 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.
CDIO vs PRAA: side by side
| CDIO (Cardio Diagnostics Holdings Inc.) | PRAA (PRA Group, Inc.) | |
|---|---|---|
| 1-year return | -50.1% | +12.9% |
| 5-year return | -99.4% | -53.3% |
| Volatility (ann.) | 214.2% | 62.0% |
| Beta vs S&P 500 | 3.57 | 1.15 |
| Max drawdown (3Y) | -98.9% | -62.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDIO | PRAA |
|---|---|---|
| 2022 | – | -32.7% |
| 2023 | +134.9% | -22.4% |
| 2024 | -63.2% | -20.3% |
| 2025 | -90.1% | -15.3% |
| 2026 | -31.0% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDIO and PRAA good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CDIO and PRAA?
As of 2026-08-27, the correlation of weekly returns between CDIO and PRAA is 0.39 over 3 years, 0.49 over 1 year and 0.25 over 5 years.
Is PRAA a good diversifier for CDIO?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdio-vs-praa.json
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Related comparisons
Hubs: CDIO correlations · PRAA correlations
