GRN vs STEX: Correlation
iPath Series B Carbon Exchange-Traded Notes (GRN) and Streamex Corp. (STEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRN and STEX?
Over the past 3 years, GRN and STEX moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.12) than the 3-year average (0.39). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 2193.6 %².
STEX is one of the assets that tracks GRN most closely: it ranks #1 out of the 10 assets we track against GRN. The last year tells two different stories: GRN led by 97.4 percentage points, +14.7% for GRN against -82.7% for STEX. Note the risk asymmetry: STEX runs 6.4 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.
GRN vs STEX: side by side
| GRN (iPath Series B Carbon Exchange-Traded Notes) | STEX (Streamex Corp.) | |
|---|---|---|
| 1-year return | +14.7% | -82.7% |
| 5-year return | +36.8% | -97.3% |
| Volatility (ann.) | 29.5% | 188.3% |
| Beta vs S&P 500 | 0.40 | 1.71 |
| Max drawdown (3Y) | -40.7% | -96.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | 3.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRN | STEX |
|---|---|---|
| 2022 | -0.1% | -81.2% |
| 2023 | -3.0% | +13.1% |
| 2024 | -7.3% | -68.6% |
| 2025 | +20.3% | +103.4% |
| 2026 | -3.8% | -72.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRN and STEX good diversifiers for each other?
Reasonably. At 0.39, GRN and STEX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRN and STEX?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.12 over the last year and 0.24 over 5 years.
Is STEX a good diversifier for GRN?
Reasonably. At 0.39, GRN and STEX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grn-vs-stex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grn-vs-stex/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRN correlations · STEX correlations
