GRSD vs PIII: Correlation
Measured on weekly returns over the past three years, Grandstand Limited (GRSD) and P3 Health Partners Inc. (PIII) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRSD and PIII?
Over the past 3 years, GRSD and PIII moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.58) runs below the 3-year figure (-0.34). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -2758.2 %².
Among the 14 assets we track against GRSD, PIII sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months PIII outperformed by 98.0 percentage points (-78.4% for GRSD against +19.6% for PIII). One caveat on sizing: PIII is 2.9 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.
GRSD vs PIII: side by side
| GRSD (Grandstand Limited) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -78.4% | +19.6% |
| 5-year return | -85.5% | -98.1% |
| Volatility (ann.) | 53.1% | 154.4% |
| Beta vs S&P 500 | 0.92 | 0.52 |
| Max drawdown (3Y) | -90.1% | -98.9% |
| Market cap | $0.1B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRSD | PIII |
|---|---|---|
| 2022 | -9.9% | -73.9% |
| 2023 | +6.6% | -23.4% |
| 2024 | +44.4% | -84.0% |
| 2025 | -61.2% | -69.0% |
| 2026 | -66.1% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRSD and PIII good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRSD and PIII?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.58 over the last year and -0.24 over 5 years.
Is PIII a good diversifier for GRSD?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/grsd-vs-piii.json
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[](https://www.pairbook.io/pair/grsd-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRSD correlations · PIII correlations
