FWONA vs GRAB: Correlation
Measured on weekly returns over the past three years, Liberty Media Corporation - Series A Liberty Formula One (FWONA) and Grab Holdings Limited - Class A (GRAB) 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 FWONA and GRAB?
Over the past 3 years, FWONA and GRAB moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 374.5 %².
Among the 10 assets we track against FWONA, GRAB ranks #4 by 3-year correlation. The last year tells two different stories: FWONA led by 32.2 percentage points, +4.7% for FWONA against -27.5% for GRAB.
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.
FWONA vs GRAB: side by side
| FWONA (Liberty Media Corporation - Series A Liberty Formula One) | GRAB (Grab Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | +4.7% | -27.5% |
| 5-year return | +116.6% | -65.8% |
| Volatility (ann.) | 25.1% | 37.6% |
| Beta vs S&P 500 | 0.58 | 1.41 |
| Max drawdown (3Y) | -25.7% | -49.3% |
| Market cap | $23.6B | $14.7B |
| P/E (trailing) | 117.6 | 32.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWONA | GRAB |
|---|---|---|
| 2022 | -10.0% | -54.8% |
| 2023 | +13.3% | +4.7% |
| 2024 | +44.9% | +40.1% |
| 2025 | +6.4% | +5.7% |
| 2026 | +5.3% | -28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWONA and GRAB good diversifiers for each other?
Reasonably. At 0.40, FWONA and GRAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FWONA and GRAB?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.42 over the last year and 0.24 over 5 years.
Is GRAB a good diversifier for FWONA?
Reasonably. At 0.40, FWONA and GRAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: FWONA correlations · GRAB correlations
