CDRO vs GRAL: Correlation
Codere Online Luxembourg, S.A. (CDRO) and GRAIL, Inc. (GRAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRO and GRAL?
Across a 3-year window, the weekly returns of CDRO and GRAL correlate at 0.33, moderate. The past 12 months show a weaker link (0.03) than the 3-year average (0.33). Stretching to 5 years gives n/a, with an annualized covariance of 1201.7 %².
Few assets follow CDRO as closely as GRAL, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with GRAL ahead by 136.7 points (+8.6% versus +145.3%). Note the risk asymmetry: GRAL runs 2.3 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.
CDRO vs GRAL: side by side
| CDRO (Codere Online Luxembourg, S.A.) | GRAL (GRAIL, Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +145.3% |
| 5-year return | -9.1% | n/a |
| Volatility (ann.) | 44.5% | 103.8% |
| Beta vs S&P 500 | 0.65 | 2.60 |
| Max drawdown (3Y) | -37.6% | -62.9% |
| Market cap | $0.4B | $3.7B |
| P/E (trailing) | 225.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRO | GRAL |
|---|---|---|
| 2022 | -57.1% | – |
| 2023 | +14.0% | – |
| 2024 | +119.4% | – |
| 2025 | +24.5% | +379.5% |
| 2026 | +12.1% | -3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRO and GRAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDRO and GRAL?
The CDRO/GRAL correlation stands at 0.33 on a 3-year window (1 year: 0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is GRAL a good diversifier for CDRO?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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: CDRO correlations · GRAL correlations
