PIII vs TRMB: Correlation
P3 Health Partners Inc. (PIII) and Trimble Inc. (TRMB) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIII and TRMB?
Over the past 3 years, PIII and TRMB moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.19). Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -884.1 %².
Among the 28 assets we track against PIII, TRMB ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PIII ahead by 44.7 points (+19.6% versus -25.1%). One caveat on sizing: PIII is 5.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TRMB: side by side
| PIII (P3 Health Partners Inc.) | TRMB (Trimble Inc.) | |
|---|---|---|
| 1-year return | +19.6% | -25.1% |
| 5-year return | -98.1% | -35.7% |
| Volatility (ann.) | 154.4% | 30.9% |
| Beta vs S&P 500 | 0.52 | 1.13 |
| Max drawdown (3Y) | -98.9% | -42.7% |
| Market cap | $1.9B | $14.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | PIII | TRMB |
|---|---|---|
| 2022 | -73.9% | -42.0% |
| 2023 | -23.4% | +5.2% |
| 2024 | -84.0% | +32.8% |
| 2025 | -69.0% | +10.9% |
| 2026 | +169.1% | -21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIII and TRMB good diversifiers for each other?
Yes. With a correlation of -0.19, PIII and TRMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PIII and TRMB?
The PIII/TRMB correlation stands at -0.19 on a 3-year window (1 year: -0.32, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is TRMB a good diversifier for PIII?
Yes. With a correlation of -0.19, PIII and TRMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/piii-vs-trmb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/piii-vs-trmb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PIII correlations · TRMB correlations
