CPHI vs PIII: Correlation
China Pharma Holdings, Inc. (CPHI) and P3 Health Partners Inc. (PIII) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPHI and PIII?
On 3 years of weekly data the CPHI/PIII correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.45). The 5-year figure is 0.37, and annualized covariance runs at 7816.2 %².
Within CPHI's tracked universe of 16 assets, PIII comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PIII outperformed by 56.3 percentage points (-36.7% for CPHI against +19.6% for PIII).
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 PIII: side by side
| CPHI (China Pharma Holdings, Inc.) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -36.7% | +19.6% |
| 5-year return | -99.7% | -98.1% |
| Volatility (ann.) | 112.2% | 154.4% |
| Beta vs S&P 500 | 0.27 | 0.52 |
| Max drawdown (3Y) | -95.0% | -98.9% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPHI | PIII |
|---|---|---|
| 2022 | -79.2% | -73.9% |
| 2023 | -88.0% | -23.4% |
| 2024 | -61.7% | -84.0% |
| 2025 | -47.4% | -69.0% |
| 2026 | -26.8% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPHI and PIII good diversifiers for each other?
Reasonably. At 0.45, CPHI and PIII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CPHI and PIII?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.57 over the last year and 0.37 over 5 years.
Is PIII a good diversifier for CPHI?
Reasonably. At 0.45, CPHI and PIII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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/cphi-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cphi-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPHI correlations · PIII correlations
