GSIW vs LIDR: Correlation
How closely do Garden Stage Limited - Class A (GSIW) and AEye, Inc. (LIDR) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSIW and LIDR?
Across a 3-year window, the weekly returns of GSIW and LIDR correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.03) runs above the 3-year figure (-0.29). Stretching to 5 years gives n/a, with an annualized covariance of -10266.7 %².
Out of 22 assets tracked against GSIW, LIDR lands near the bottom at #20. The last year tells two different stories: GSIW led by 35.8 percentage points, -24.5% for GSIW against -60.3% for LIDR.
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.
GSIW vs LIDR: side by side
| GSIW (Garden Stage Limited - Class A) | LIDR (AEye, Inc.) | |
|---|---|---|
| 1-year return | -24.5% | -60.3% |
| 5-year return | n/a | -99.6% |
| Volatility (ann.) | 159.9% | 211.5% |
| Beta vs S&P 500 | 1.06 | 2.26 |
| Max drawdown (3Y) | -99.7% | -93.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSIW | LIDR |
|---|---|---|
| 2022 | – | -90.1% |
| 2023 | – | -84.1% |
| 2024 | -91.5% | -44.5% |
| 2025 | -80.6% | +44.9% |
| 2026 | -41.5% | -34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSIW and LIDR good diversifiers for each other?
Yes. With a correlation of -0.29, GSIW and LIDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSIW and LIDR?
The GSIW/LIDR correlation stands at -0.29 on a 3-year window (1 year: -0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is LIDR a good diversifier for GSIW?
Yes. With a correlation of -0.29, GSIW and LIDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/gsiw-vs-lidr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gsiw-vs-lidr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GSIW correlations · LIDR correlations
