GMED vs PLNT: Correlation
Measured on weekly returns over the past three years, Globus Medical, Inc. (GMED) and Planet Fitness, Inc. (PLNT) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMED and PLNT?
On 3 years of weekly data the GMED/PLNT correlation comes out at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.42 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 685.6 %².
Within GMED's tracked universe of 15 assets, PLNT comes in at #6 by 3-year correlation. The last year tells two different stories: GMED led by 85.3 percentage points, +34.2% for GMED against -51.1% for PLNT.
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.
GMED vs PLNT: side by side
| GMED (Globus Medical, Inc.) | PLNT (Planet Fitness, Inc.) | |
|---|---|---|
| 1-year return | +34.2% | -51.1% |
| 5-year return | +0.4% | -36.6% |
| Volatility (ann.) | 41.6% | 39.0% |
| Beta vs S&P 500 | 0.74 | 0.42 |
| Max drawdown (3Y) | -44.4% | -61.2% |
| Market cap | $11.1B | $3.9B |
| P/E (trailing) | 21.1 | 17.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GMED | PLNT |
|---|---|---|
| 2022 | +2.9% | -13.0% |
| 2023 | -28.2% | -7.4% |
| 2024 | +55.2% | +35.4% |
| 2025 | +5.6% | +9.7% |
| 2026 | -5.5% | -52.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMED and PLNT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GMED and PLNT?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.53 over the last year and 0.41 over 5 years.
Is PLNT a good diversifier for GMED?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gmed-vs-plnt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gmed-vs-plnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GMED correlations · PLNT correlations
