DGX vs PEW: Correlation
How closely do Quest Diagnostics (DGX) and GrabAGun Digital Holdings Inc. (PEW) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and PEW?
Over the past 3 years, DGX and PEW moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.20 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -197.6 %².
Out of 32 assets tracked against DGX, PEW lands near the bottom at #29. Their recent paths diverged sharply: over the last 12 months DGX outperformed by 95.6 percentage points (+38.5% for DGX against -57.1% for PEW). Note the risk asymmetry: PEW runs 2.7 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.
DGX vs PEW: side by side
| DGX (Quest Diagnostics) | PEW (GrabAGun Digital Holdings Inc.) | |
|---|---|---|
| 1-year return | +38.5% | -57.1% |
| 5-year return | +78.8% | n/a |
| Volatility (ann.) | 19.1% | 51.2% |
| Beta vs S&P 500 | 0.09 | 0.44 |
| Max drawdown (3Y) | -12.4% | -86.8% |
| Market cap | $27.0B | $0.1B |
| P/E (trailing) | 26.0 | – |
| Dividend yield | 1.36% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DGX | PEW |
|---|---|---|
| 2022 | -7.8% | – |
| 2023 | -10.1% | – |
| 2024 | +11.8% | – |
| 2025 | +17.2% | -74.4% |
| 2026 | +42.8% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and PEW good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGX and PEW?
As of 2026-08-27, the correlation of weekly returns between DGX and PEW is -0.20 over 3 years, -0.33 over 1 year and n/a over 5 years.
Is PEW a good diversifier for DGX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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/dgx-vs-pew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgx-vs-pew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DGX correlations · PEW correlations
