GJP vs RDZN: Correlation
Synthetic Fixed-Income Securities, Inc. on behalf of STRATS (GJP) and Roadzen, Inc. (RDZN) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJP and RDZN?
Across a 3-year window, the weekly returns of GJP and RDZN correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -274.5 %².
RDZN is close to the least connected end of GJP's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months RDZN outperformed by 44.9 percentage points (+5.6% for GJP against +50.5% for RDZN). Note the risk asymmetry: RDZN runs 11.9 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.
GJP vs RDZN: side by side
| GJP (Synthetic Fixed-Income Securities, Inc. on behalf of STRATS) | RDZN (Roadzen, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +50.5% |
| 5-year return | +30.4% | -84.9% |
| Volatility (ann.) | 10.3% | 122.6% |
| Beta vs S&P 500 | 0.13 | 1.57 |
| Max drawdown (3Y) | -5.8% | -94.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 6.8 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJP | RDZN |
|---|---|---|
| 2022 | +4.2% | – |
| 2023 | +7.1% | -50.3% |
| 2024 | +7.2% | -57.2% |
| 2025 | +5.2% | +10.6% |
| 2026 | +2.9% | -38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJP and RDZN good diversifiers for each other?
Yes. With a correlation of -0.22, GJP and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GJP and RDZN?
As of 2026-08-27, the correlation of weekly returns between GJP and RDZN is -0.22 over 3 years, -0.15 over 1 year and -0.13 over 5 years.
Is RDZN a good diversifier for GJP?
Yes. With a correlation of -0.22, GJP and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/gjp-vs-rdzn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gjp-vs-rdzn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GJP correlations · RDZN correlations
