CPHI vs GRSD: Correlation
How closely do China Pharma Holdings, Inc. (CPHI) and Grandstand Limited (GRSD) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and GRSD?
Across a 3-year window, the weekly returns of CPHI and GRSD correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.29). Stretching to 5 years gives -0.17, with an annualized covariance of -1719.9 %².
GRSD is close to the least connected end of CPHI's tracked universe, ranking #16 of 16. The last year tells two different stories: CPHI led by 41.7 percentage points, -36.7% for CPHI against -78.4% for GRSD. Risk is not evenly split, since CPHI carries 2.1 times the volatility of the other side.
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.
CPHI vs GRSD: side by side
| CPHI (China Pharma Holdings, Inc.) | GRSD (Grandstand Limited) | |
|---|---|---|
| 1-year return | -36.7% | -78.4% |
| 5-year return | -99.7% | -85.5% |
| Volatility (ann.) | 112.2% | 53.1% |
| Beta vs S&P 500 | 0.27 | 0.92 |
| Max drawdown (3Y) | -95.0% | -90.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPHI | GRSD |
|---|---|---|
| 2022 | -79.2% | -9.9% |
| 2023 | -88.0% | +6.6% |
| 2024 | -61.7% | +44.4% |
| 2025 | -47.4% | -61.2% |
| 2026 | -26.8% | -66.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and GRSD good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPHI and GRSD?
As of 2026-08-27, the correlation of weekly returns between CPHI and GRSD is -0.29 over 3 years, -0.47 over 1 year and -0.17 over 5 years.
Is GRSD a good diversifier for CPHI?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CPHI correlations · GRSD correlations
