GPGI vs MD: Correlation
How closely do GPGI, Inc. (GPGI) and Pediatrix Medical Group, Inc. (MD) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPGI and MD?
On 3 years of weekly data the GPGI/MD correlation comes out at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.40). The 5-year figure is 0.28, and annualized covariance runs at 1005.1 %².
By 3-year correlation, MD places #7 of the 13 assets tracked against GPGI. Their recent paths diverged sharply: over the last 12 months MD outperformed by 89.2 percentage points (-33.2% for GPGI against +56.0% for MD).
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.
GPGI vs MD: side by side
| GPGI (GPGI, Inc.) | MD (Pediatrix Medical Group, Inc.) | |
|---|---|---|
| 1-year return | -33.2% | +56.0% |
| 5-year return | +66.0% | -23.8% |
| Volatility (ann.) | 53.8% | 46.2% |
| Beta vs S&P 500 | 1.14 | 0.33 |
| Max drawdown (3Y) | -55.7% | -52.8% |
| Market cap | $3.8B | $2.2B |
| P/E (trailing) | – | 12.9 |
| Dividend yield | 0.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPGI | MD |
|---|---|---|
| 2022 | -40.2% | -45.4% |
| 2023 | +10.0% | -37.4% |
| 2024 | +197.3% | +41.1% |
| 2025 | +51.4% | +63.0% |
| 2026 | -31.2% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPGI and MD good diversifiers for each other?
Reasonably. At 0.40, GPGI and MD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GPGI and MD?
The GPGI/MD correlation stands at 0.40 on a 3-year window (1 year: 0.28, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is MD a good diversifier for GPGI?
Reasonably. At 0.40, GPGI and MD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/gpgi-vs-md.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gpgi-vs-md/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GPGI correlations · MD correlations
