PL vs RDW: Correlation
Planet Labs PBC (PL) and Redwire Corporation (RDW) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PL and RDW?
Over the past 3 years, PL and RDW moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 5093.5 %².
In PL's tracked universe of 10 assets, RDW sits right near the top at #2. Correlation aside, the last 12 months split them widely, with PL ahead by 173.5 points (+198.9% versus +25.4%).
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.
PL vs RDW: side by side
| PL (Planet Labs PBC) | RDW (Redwire Corporation) | |
|---|---|---|
| 1-year return | +198.9% | +25.4% |
| 5-year return | +114.4% | +12.9% |
| Volatility (ann.) | 89.7% | 101.5% |
| Beta vs S&P 500 | 2.46 | 3.01 |
| Max drawdown (3Y) | -62.1% | -80.3% |
| Market cap | $7.5B | $2.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PL | RDW |
|---|---|---|
| 2022 | -29.3% | -70.7% |
| 2023 | -43.2% | +43.9% |
| 2024 | +63.6% | +477.5% |
| 2025 | +388.1% | -53.8% |
| 2026 | +7.3% | +48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PL and RDW good diversifiers for each other?
To a limited degree. At 0.56 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 PL and RDW?
The PL/RDW correlation stands at 0.56 on a 3-year window (1 year: 0.53, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is RDW a good diversifier for PL?
To a limited degree. At 0.56 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 0.56 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/pl-vs-rdw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pl-vs-rdw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PL correlations · RDW correlations
