Systems and methods for analyzing performance of a power grid monitor are disclosed herein. In one embodiment, a method includes receiving test data from a test power grid monitor coupled to a power grid signal source and receiving reference data from a reference power grid monitor coupled to the same power grid signal source. The method also includes identifying a power grid condition based on the received test data and/or reference data, extracting a subset of the test data and a subset of the reference data corresponding to the identified power grid condition, and comparing the subset of the test data to the subset of the reference data to determine a measurement accuracy of the test power grid monitor.