III vs PAX: Correlation
Measured on weekly returns over the past three years, Information Services Group, Inc. (III) and Patria Investments Limited - Class A (PAX) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are III and PAX?
Across a 3-year window, the weekly returns of III and PAX correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 564.2 %².
Within III's tracked universe of 16 assets, PAX comes in at #5 by 3-year correlation. The trailing year gives III the advantage: +5.6% versus -8.8%, a 14.4-point spread.
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.
III vs PAX: side by side
| III (Information Services Group, Inc.) | PAX (Patria Investments Limited - Class A) | |
|---|---|---|
| 1-year return | +5.6% | -8.8% |
| 5-year return | -14.6% | -3.0% |
| Volatility (ann.) | 38.4% | 28.8% |
| Beta vs S&P 500 | 0.99 | 0.98 |
| Max drawdown (3Y) | -41.5% | -37.7% |
| Market cap | $0.2B | $1.9B |
| P/E (trailing) | 21.0 | 25.9 |
| Dividend yield | 3.63% | 5.28% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | III | PAX |
|---|---|---|
| 2022 | -38.1% | -9.9% |
| 2023 | +6.2% | +18.9% |
| 2024 | -25.3% | -20.0% |
| 2025 | +79.8% | +43.1% |
| 2026 | -10.8% | -23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are III and PAX good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between III and PAX?
The III/PAX correlation stands at 0.51 on a 3-year window (1 year: 0.45, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is PAX a good diversifier for III?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: III correlations · PAX correlations
