GCMG vs MMYT: Correlation
GCM Grosvenor Inc. (GCMG) and MakeMyTrip Limited (MMYT) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCMG and MMYT?
Over the past 3 years, GCMG and MMYT moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 657.9 %².
By 3-year correlation, MMYT places #5 of the 10 assets tracked against GCMG. Their recent paths diverged sharply: over the last 12 months GCMG outperformed by 52.8 percentage points (+9.2% for GCMG against -43.6% for MMYT). Note the risk asymmetry: MMYT runs 1.8 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.
GCMG vs MMYT: side by side
| GCMG (GCM Grosvenor Inc.) | MMYT (MakeMyTrip Limited) | |
|---|---|---|
| 1-year return | +9.2% | -43.6% |
| 5-year return | +52.8% | +128.7% |
| Volatility (ann.) | 28.2% | 49.5% |
| Beta vs S&P 500 | 0.76 | 1.76 |
| Max drawdown (3Y) | -31.3% | -69.9% |
| Market cap | $0.8B | $5.5B |
| P/E (trailing) | 25.8 | 253.0 |
| Dividend yield | 3.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCMG | MMYT |
|---|---|---|
| 2022 | -24.0% | -0.5% |
| 2023 | +24.6% | +70.4% |
| 2024 | +43.0% | +139.0% |
| 2025 | -4.3% | -26.9% |
| 2026 | +23.5% | -29.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCMG and MMYT good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GCMG and MMYT?
As of 2026-08-27, the correlation of weekly returns between GCMG and MMYT is 0.47 over 3 years, 0.56 over 1 year and 0.37 over 5 years.
Is MMYT a good diversifier for GCMG?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/gcmg-vs-mmyt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gcmg-vs-mmyt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GCMG correlations · MMYT correlations
