CODX vs GIPR: Correlation
Measured on weekly returns over the past three years, Co-Diagnostics, Inc. (CODX) and Generation Income Properties Inc. (GIPR) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and GIPR?
Over the past 3 years, CODX and GIPR moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 9427.4 %².
By 3-year correlation, GIPR places #10 of the 24 assets tracked against CODX. The trailing year gives CODX the advantage: -87.1% versus -95.2%, a 8.1-point spread. One caveat on sizing: CODX is 1.9 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.
CODX vs GIPR: side by side
| CODX (Co-Diagnostics, Inc.) | GIPR (Generation Income Properties Inc.) | |
|---|---|---|
| 1-year return | -87.1% | -95.2% |
| 5-year return | -99.6% | -99.3% |
| Volatility (ann.) | 203.9% | 110.2% |
| Beta vs S&P 500 | 2.30 | 1.42 |
| Max drawdown (3Y) | -97.9% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | GIPR |
|---|---|---|
| 2022 | -71.8% | -14.6% |
| 2023 | -47.2% | -9.2% |
| 2024 | -43.6% | -51.1% |
| 2025 | -77.5% | -64.8% |
| 2026 | -75.1% | -93.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and GIPR good diversifiers for each other?
Reasonably. At 0.42, CODX and GIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CODX and GIPR?
The CODX/GIPR correlation stands at 0.42 on a 3-year window (1 year: 0.48, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is GIPR a good diversifier for CODX?
Reasonably. At 0.42, CODX and GIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/codx-vs-gipr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/codx-vs-gipr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CODX correlations · GIPR correlations
