ABCL vs CDTG: Correlation
How closely do AbCellera Biologics Inc. (ABCL) and CDT Environmental Technology Investment Holdings Limited (CDTG) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and CDTG?
Across a 3-year window, the weekly returns of ABCL and CDTG correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.33 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 4568.6 %².
Among the 17 assets we track against ABCL, CDTG ranks #11 by 3-year correlation. The last year tells two different stories: ABCL led by 277.7 percentage points, +185.1% for ABCL against -92.6% for CDTG. Note the risk asymmetry: CDTG runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ABCL vs CDTG: side by side
| ABCL (AbCellera Biologics Inc.) | CDTG (CDT Environmental Technology Investment Holdings Limited) | |
|---|---|---|
| 1-year return | +185.1% | -92.6% |
| 5-year return | -28.5% | n/a |
| Volatility (ann.) | 80.2% | 160.6% |
| Beta vs S&P 500 | 1.75 | 0.42 |
| Max drawdown (3Y) | -67.7% | -99.2% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCL | CDTG |
|---|---|---|
| 2022 | -29.2% | – |
| 2023 | -43.6% | – |
| 2024 | -48.7% | – |
| 2025 | +16.7% | -92.2% |
| 2026 | +262.6% | -87.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and CDTG good diversifiers for each other?
Reasonably. At 0.33, ABCL and CDTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABCL and CDTG?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.33 over the last year and n/a over 5 years.
Is CDTG a good diversifier for ABCL?
Reasonably. At 0.33, ABCL and CDTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
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Related comparisons
Hubs: ABCL correlations · CDTG correlations
