PIII vs QETA: Correlation
Measured on weekly returns over the past three years, P3 Health Partners Inc. (PIII) and Quetta Acquisition Corporation (QETA) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIII and QETA?
On 3 years of weekly data the PIII/QETA correlation comes out at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 339.8 %².
By 3-year correlation, QETA places #10 of the 28 assets tracked against PIII. The trailing year gives PIII the advantage: +19.6% versus +4.9%, a 14.7-point spread. Note the risk asymmetry: PIII runs 29.7 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.
PIII vs QETA: side by side
| PIII (P3 Health Partners Inc.) | QETA (Quetta Acquisition Corporation) | |
|---|---|---|
| 1-year return | +19.6% | +4.9% |
| 5-year return | -98.1% | n/a |
| Volatility (ann.) | 154.4% | 5.2% |
| Beta vs S&P 500 | 0.52 | -0.04 |
| Max drawdown (3Y) | -98.9% | -5.1% |
| Market cap | $1.9B | – |
| P/E (trailing) | – | 51.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIII | QETA |
|---|---|---|
| 2022 | -73.9% | – |
| 2023 | -23.4% | – |
| 2024 | -84.0% | +4.4% |
| 2025 | -69.0% | +7.6% |
| 2026 | +169.1% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIII and QETA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PIII and QETA?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.46 over the last year and n/a over 5 years.
Is QETA a good diversifier for PIII?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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/piii-vs-qeta.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/piii-vs-qeta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PIII correlations · QETA correlations
