GSIW vs SUIG: Correlation
How closely do Garden Stage Limited - Class A (GSIW) and Sui Group Holdings Limited (SUIG) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSIW and SUIG?
On 3 years of weekly data the GSIW/SUIG correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.16) runs above the 3-year figure (-0.30). The 5-year figure is n/a, and annualized covariance runs at -7939.0 %².
Out of 22 assets tracked against GSIW, SUIG lands near the bottom at #21. Correlation aside, the last 12 months split them widely, with GSIW ahead by 58.9 points (-24.5% versus -83.4%).
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 SUIG: side by side
| GSIW (Garden Stage Limited - Class A) | SUIG (Sui Group Holdings Limited) | |
|---|---|---|
| 1-year return | -24.5% | -83.4% |
| 5-year return | n/a | -88.3% |
| Volatility (ann.) | 159.9% | 162.1% |
| Beta vs S&P 500 | 1.06 | 1.61 |
| Max drawdown (3Y) | -99.7% | -89.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSIW | SUIG |
|---|---|---|
| 2022 | – | -75.1% |
| 2023 | – | +19.5% |
| 2024 | -91.5% | -20.3% |
| 2025 | -80.6% | -14.4% |
| 2026 | -41.5% | -38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSIW and SUIG good diversifiers for each other?
Yes. With a correlation of -0.30, GSIW and SUIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSIW and SUIG?
The GSIW/SUIG correlation stands at -0.30 on a 3-year window (1 year: 0.16, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SUIG a good diversifier for GSIW?
Yes. With a correlation of -0.30, GSIW and SUIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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
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Related comparisons
Hubs: GSIW correlations · SUIG correlations
