GOOS vs PIII: Correlation
Canada Goose Holdings Inc. Subordinate Voting Shares (GOOS) and P3 Health Partners Inc. (PIII) 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 GOOS and PIII?
On 3 years of weekly data the GOOS/PIII correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.22). The 5-year figure is -0.08, and annualized covariance runs at -1581.6 %².
PIII is close to the least connected end of GOOS's tracked universe, ranking #10 of 12. The last year tells two different stories: PIII led by 62.3 percentage points, -42.7% for GOOS against +19.6% for PIII. Note the risk asymmetry: PIII runs 3.3 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.
GOOS vs PIII: side by side
| GOOS (Canada Goose Holdings Inc. Subordinate Voting Shares) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -42.7% | +19.6% |
| 5-year return | -79.0% | -98.1% |
| Volatility (ann.) | 46.5% | 154.4% |
| Beta vs S&P 500 | 0.88 | 0.52 |
| Max drawdown (3Y) | -57.7% | -98.9% |
| Market cap | $0.8B | $1.9B |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOOS | PIII |
|---|---|---|
| 2022 | -51.9% | -73.9% |
| 2023 | -33.5% | -23.4% |
| 2024 | -15.4% | -84.0% |
| 2025 | +29.1% | -69.0% |
| 2026 | -37.5% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOS and PIII good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GOOS and PIII?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.45 over the last year and -0.08 over 5 years.
Is PIII a good diversifier for GOOS?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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/goos-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/goos-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GOOS correlations · PIII correlations
