GSIW vs PTC: Correlation
Garden Stage Limited - Class A (GSIW) and PTC Inc. (PTC) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSIW and PTC?
Over the past 3 years, GSIW and PTC moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -999.7 %².
Within GSIW's tracked universe of 22 assets, PTC comes in at #13 by 3-year correlation. Twelve-month performance is nearly a tie, at -24.5% for GSIW and -26.6% for PTC. Note the risk asymmetry: GSIW runs 5.6 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.
GSIW vs PTC: side by side
| GSIW (Garden Stage Limited - Class A) | PTC (PTC Inc.) | |
|---|---|---|
| 1-year return | -24.5% | -26.6% |
| 5-year return | n/a | +20.0% |
| Volatility (ann.) | 159.9% | 28.8% |
| Beta vs S&P 500 | 1.06 | 1.02 |
| Max drawdown (3Y) | -99.7% | -48.1% |
| Market cap | – | $17.2B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | GSIW | PTC |
|---|---|---|
| 2022 | – | -0.9% |
| 2023 | – | +45.8% |
| 2024 | -91.5% | +5.1% |
| 2025 | -80.6% | -5.3% |
| 2026 | -41.5% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSIW and PTC good diversifiers for each other?
Yes. With a correlation of -0.21, GSIW and PTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSIW and PTC?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.23 over the last year and n/a over 5 years.
Is PTC a good diversifier for GSIW?
Yes. With a correlation of -0.21, GSIW and PTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gsiw-vs-ptc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gsiw-vs-ptc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GSIW correlations · PTC correlations
