GROV vs SRFM: Correlation
How closely do Grove Collaborative Holdings, Inc. (GROV) and Surf Air Mobility Inc. (SRFM) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GROV and SRFM?
Over the past 3 years, GROV and SRFM moved with a correlation of 0.31, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.31). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2667.9 %².
SRFM is one of the assets that tracks GROV most closely: it ranks #2 out of the 11 assets we track against GROV. Correlation aside, the last 12 months split them widely, with GROV ahead by 48.1 points (-35.8% versus -83.9%). Risk is not evenly split, since SRFM carries 2.6 times the volatility of the other side.
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 SRFM: side by side
| GROV (Grove Collaborative Holdings, Inc.) | SRFM (Surf Air Mobility Inc.) | |
|---|---|---|
| 1-year return | -35.8% | -83.9% |
| 5-year return | -97.9% | n/a |
| Volatility (ann.) | 57.5% | 150.4% |
| Beta vs S&P 500 | 0.33 | 3.45 |
| Max drawdown (3Y) | -74.4% | -96.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GROV | SRFM |
|---|---|---|
| 2022 | -96.0% | – |
| 2023 | -11.3% | – |
| 2024 | -21.5% | -50.3% |
| 2025 | -20.9% | -64.0% |
| 2026 | -9.5% | -62.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GROV and SRFM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GROV and SRFM?
As of 2026-08-27, the correlation of weekly returns between GROV and SRFM is 0.31 over 3 years, 0.19 over 1 year and n/a over 5 years.
Is SRFM a good diversifier for GROV?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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.
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Related comparisons
Hubs: GROV correlations · SRFM correlations
