PIII vs YELP: Correlation
P3 Health Partners Inc. (PIII) and Yelp Inc. (YELP) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIII and YELP?
On 3 years of weekly data the PIII/YELP correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.28 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -1404.1 %².
Among the 28 assets we track against PIII, YELP sits near the bottom by co-movement, at rank #25. Correlation aside, the last 12 months split them widely, with PIII ahead by 48.2 points (+19.6% versus -28.6%). Risk is not evenly split, since PIII carries 4.8 times the volatility of the other side.
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 YELP: side by side
| PIII (P3 Health Partners Inc.) | YELP (Yelp Inc.) | |
|---|---|---|
| 1-year return | +19.6% | -28.6% |
| 5-year return | -98.1% | -41.2% |
| Volatility (ann.) | 154.4% | 32.4% |
| Beta vs S&P 500 | 0.52 | 0.57 |
| Max drawdown (3Y) | -98.9% | -59.2% |
| Market cap | $1.9B | $1.2B |
| P/E (trailing) | – | 10.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIII | YELP |
|---|---|---|
| 2022 | -73.9% | -24.6% |
| 2023 | -23.4% | +73.2% |
| 2024 | -84.0% | -18.3% |
| 2025 | -69.0% | -21.5% |
| 2026 | +169.1% | -25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIII and YELP good diversifiers for each other?
Yes. With a correlation of -0.28, PIII and YELP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PIII and YELP?
As of 2026-08-27, the correlation of weekly returns between PIII and YELP is -0.28 over 3 years, -0.46 over 1 year and -0.09 over 5 years.
Is YELP a good diversifier for PIII?
Yes. With a correlation of -0.28, PIII and YELP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/piii-vs-yelp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/piii-vs-yelp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PIII correlations · YELP correlations
