GCL vs INM: Correlation
Measured on weekly returns over the past three years, GCL Global Holdings Ltd (GCL) and InMed Pharmaceuticals Inc. (INM) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCL and INM?
Across a 3-year window, the weekly returns of GCL and INM correlate at 0.28, weak. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.28). Stretching to 5 years gives 0.25, with an annualized covariance of 4138.7 %².
By 3-year correlation, INM places #4 of the 10 assets tracked against GCL. Correlation aside, the last 12 months split them widely, with INM ahead by 44.6 points (-81.0% versus -36.4%). Note the risk asymmetry: INM runs 2.0 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.
GCL vs INM: side by side
| GCL (GCL Global Holdings Ltd) | INM (InMed Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | -81.0% | -36.4% |
| 5-year return | -93.2% | -99.9% |
| Volatility (ann.) | 85.9% | 169.8% |
| Beta vs S&P 500 | 0.21 | 2.62 |
| Max drawdown (3Y) | -96.7% | -96.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCL | INM |
|---|---|---|
| 2022 | – | -93.8% |
| 2023 | +6.1% | -79.4% |
| 2024 | +6.9% | -43.0% |
| 2025 | -90.7% | -77.6% |
| 2026 | -36.9% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCL and INM good diversifiers for each other?
Reasonably. At 0.28, GCL and INM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GCL and INM?
The GCL/INM correlation stands at 0.28 on a 3-year window (1 year: 0.54, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is INM a good diversifier for GCL?
Reasonably. At 0.28, GCL and INM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gcl-vs-inm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gcl-vs-inm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GCL correlations · INM correlations
