GRN vs RENT: Correlation
Measured on weekly returns over the past three years, iPath Series B Carbon Exchange-Traded Notes (GRN) and Rent the Runway, Inc. (RENT) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRN and RENT?
Across a 3-year window, the weekly returns of GRN and RENT correlate at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Stretching to 5 years gives 0.21, with an annualized covariance of 2238.7 %².
Few assets follow GRN as closely as RENT, which ranks #2 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with GRN ahead by 50.5 points (+14.7% versus -35.8%). One caveat on sizing: RENT is 7.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GRN vs RENT: side by side
| GRN (iPath Series B Carbon Exchange-Traded Notes) | RENT (Rent the Runway, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | -35.8% |
| 5-year return | +36.8% | -99.1% |
| Volatility (ann.) | 29.5% | 212.1% |
| Beta vs S&P 500 | 0.40 | 2.17 |
| Max drawdown (3Y) | -40.7% | -91.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | 3.5 | 0.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRN | RENT |
|---|---|---|
| 2022 | -0.1% | -62.6% |
| 2023 | -3.0% | -82.7% |
| 2024 | -7.3% | -19.5% |
| 2025 | +20.3% | -6.9% |
| 2026 | -3.8% | -54.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRN and RENT good diversifiers for each other?
Reasonably. At 0.36, GRN and RENT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRN and RENT?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.33 over the last year and 0.21 over 5 years.
Is RENT a good diversifier for GRN?
Reasonably. At 0.36, GRN and RENT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/grn-vs-rent.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grn-vs-rent/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRN correlations · RENT correlations
