Statistics true peak vs peak max (master & channel meter)

Working with gain staging i found a faster way to check the peak of a file using the statistics panel
The problem is that the true peak value from stats is different from peak max value in the master/channel meter. The difference is about 3dB
There’s a reason for that?
Which value is correct?

Cubase 9.0.40

My guess would be PAN Law, so both values are correct.