COKE vs GRDX: Correlation
Coca-Cola Consolidated, Inc. (COKE) and GridAI Technologies Corp. (GRDX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COKE and GRDX?
On 3 years of weekly data the COKE/GRDX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.23). The 5-year figure is -0.11, and annualized covariance runs at -1257.8 %².
GRDX is close to the least connected end of COKE's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with GRDX ahead by 43.1 points (+66.8% versus +109.9%). Note the risk asymmetry: GRDX runs 4.6 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.
COKE vs GRDX: side by side
| COKE (Coca-Cola Consolidated, Inc.) | GRDX (GridAI Technologies Corp.) | |
|---|---|---|
| 1-year return | +66.8% | +109.9% |
| 5-year return | +408.3% | -100.0% |
| Volatility (ann.) | 34.3% | 157.9% |
| Beta vs S&P 500 | 0.28 | 1.09 |
| Max drawdown (3Y) | -27.4% | -97.7% |
| Market cap | $13.0B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 0.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COKE | GRDX |
|---|---|---|
| 2022 | -17.1% | -98.0% |
| 2023 | +82.9% | -96.6% |
| 2024 | +38.7% | -85.2% |
| 2025 | +22.6% | +149.7% |
| 2026 | +27.5% | -13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COKE and GRDX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between COKE and GRDX?
As of 2026-08-27, the correlation of weekly returns between COKE and GRDX is -0.23 over 3 years, -0.45 over 1 year and -0.11 over 5 years.
Is GRDX a good diversifier for COKE?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/coke-vs-grdx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coke-vs-grdx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COKE correlations · GRDX correlations
