GMEX vs PHUN: Correlation
How closely do GMEX ROBOTICS CORPORATION - Class A (GMEX) and Phunware, Inc. (PHUN) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GMEX and PHUN?
Across a 3-year window, the weekly returns of GMEX and PHUN correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 11304.4 %².
In GMEX's tracked universe of 17 assets, PHUN sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months PHUN outperformed by 79.9 percentage points (-100.0% for GMEX against -20.1% for PHUN).
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.
GMEX vs PHUN: side by side
| GMEX (GMEX ROBOTICS CORPORATION - Class A) | PHUN (Phunware, Inc.) | |
|---|---|---|
| 1-year return | -100.0% | -20.1% |
| 5-year return | n/a | -96.0% |
| Volatility (ann.) | 195.3% | 162.6% |
| Beta vs S&P 500 | 2.43 | 1.61 |
| Max drawdown (3Y) | -100.0% | -92.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 4710.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GMEX | PHUN |
|---|---|---|
| 2022 | – | -70.6% |
| 2023 | – | -89.4% |
| 2024 | +471.2% | +26.8% |
| 2025 | -99.6% | -64.4% |
| 2026 | -99.6% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GMEX and PHUN good diversifiers for each other?
Reasonably. At 0.36, GMEX and PHUN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GMEX and PHUN?
As of 2026-08-27, the correlation of weekly returns between GMEX and PHUN is 0.36 over 3 years, 0.32 over 1 year and n/a over 5 years.
Is PHUN a good diversifier for GMEX?
Reasonably. At 0.36, GMEX and PHUN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/gmex-vs-phun.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gmex-vs-phun/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GMEX correlations · PHUN correlations
