GROV vs OBE: Correlation
Measured on weekly returns over the past three years, Grove Collaborative Holdings, Inc. (GROV) and Obsidian Energy Ltd. (OBE) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GROV and OBE?
Over the past 3 years, GROV and OBE moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.23). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -659.7 %².
Out of 11 assets tracked against GROV, OBE lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months OBE outperformed by 129.1 percentage points (-35.8% for GROV against +93.3% for OBE).
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.
GROV vs OBE: side by side
| GROV (Grove Collaborative Holdings, Inc.) | OBE (Obsidian Energy Ltd.) | |
|---|---|---|
| 1-year return | -35.8% | +93.3% |
| 5-year return | -97.9% | +339.0% |
| Volatility (ann.) | 57.5% | 50.2% |
| Beta vs S&P 500 | 0.33 | 0.38 |
| Max drawdown (3Y) | -74.4% | -56.4% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 36.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GROV | OBE |
|---|---|---|
| 2022 | -96.0% | +61.2% |
| 2023 | -11.3% | +2.1% |
| 2024 | -21.5% | -14.6% |
| 2025 | -20.9% | +5.9% |
| 2026 | -9.5% | +92.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GROV and OBE good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GROV and OBE?
As of 2026-08-27, the correlation of weekly returns between GROV and OBE is -0.23 over 3 years, -0.39 over 1 year and -0.03 over 5 years.
Is OBE a good diversifier for GROV?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/grov-vs-obe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/grov-vs-obe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GROV correlations · OBE correlations
