ERNA vs PIII: Correlation
Measured on weekly returns over the past three years, Ernexa Therapeutics Inc. (ERNA) and P3 Health Partners Inc. (PIII) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERNA and PIII?
On 3 years of weekly data the ERNA/PIII correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.40 over 3. The 5-year figure is 0.30, and annualized covariance runs at 8176.9 %².
PIII is one of the assets that tracks ERNA most closely: it ranks #2 out of the 14 assets we track against ERNA. Their recent paths diverged sharply: over the last 12 months PIII outperformed by 106.0 percentage points (-86.4% for ERNA 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.
ERNA vs PIII: side by side
| ERNA (Ernexa Therapeutics Inc.) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -86.4% | +19.6% |
| 5-year return | -100.0% | -98.1% |
| Volatility (ann.) | 131.2% | 154.4% |
| Beta vs S&P 500 | 1.62 | 0.52 |
| Max drawdown (3Y) | -99.7% | -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 | ERNA | PIII |
|---|---|---|
| 2022 | -96.1% | -73.9% |
| 2023 | -44.1% | -23.4% |
| 2024 | -83.9% | -84.0% |
| 2025 | -72.4% | -69.0% |
| 2026 | -84.2% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERNA and PIII good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ERNA and PIII?
The ERNA/PIII correlation stands at 0.40 on a 3-year window (1 year: 0.50, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is PIII a good diversifier for ERNA?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/erna-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erna-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERNA correlations · PIII correlations
