GRWG vs PEN: Correlation
GrowGeneration Corp. (GRWG) and Penumbra, Inc. (PEN) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRWG and PEN?
Over the past 3 years, GRWG and PEN moved with a correlation of 0.36, which is moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.36 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1048.4 %².
By 3-year correlation, PEN places #13 of the 18 assets tracked against GRWG. Their recent paths diverged sharply: over the last 12 months PEN outperformed by 21.5 percentage points (-1.2% for GRWG against +20.3% for PEN). Note the risk asymmetry: GRWG runs 2.2 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.
GRWG vs PEN: side by side
| GRWG (GrowGeneration Corp.) | PEN (Penumbra, Inc.) | |
|---|---|---|
| 1-year return | -1.2% | +20.3% |
| 5-year return | -94.6% | +18.7% |
| Volatility (ann.) | 79.8% | 36.0% |
| Beta vs S&P 500 | 1.88 | 0.30 |
| Max drawdown (3Y) | -76.3% | -45.5% |
| Market cap | $0.1B | $12.6B |
| P/E (trailing) | – | 79.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRWG | PEN |
|---|---|---|
| 2022 | -70.0% | -22.6% |
| 2023 | -36.0% | +13.1% |
| 2024 | -32.7% | -5.6% |
| 2025 | -11.2% | +30.9% |
| 2026 | +10.7% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRWG and PEN good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRWG and PEN?
The GRWG/PEN correlation stands at 0.36 on a 3-year window (1 year: 0.27, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is PEN a good diversifier for GRWG?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 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/grwg-vs-pen.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grwg-vs-pen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRWG correlations · PEN correlations
