AMSC vs CCTG: Correlation
How closely do American Superconductor Corporation (AMSC) and CCSC Technology International Holdings Limited - Class A (CCTG) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSC and CCTG?
On 3 years of weekly data the AMSC/CCTG correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.39 over 3. The 5-year figure is n/a, and annualized covariance runs at 4440.8 %².
Among the 13 assets we track against AMSC, CCTG sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months AMSC outperformed by 51.0 percentage points (-42.7% for AMSC against -93.7% for CCTG). Note the risk asymmetry: CCTG runs 1.8 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.
AMSC vs CCTG: side by side
| AMSC (American Superconductor Corporation) | CCTG (CCSC Technology International Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | -42.7% | -93.7% |
| 5-year return | +141.8% | n/a |
| Volatility (ann.) | 78.4% | 142.0% |
| Beta vs S&P 500 | 2.16 | 1.57 |
| Max drawdown (3Y) | -61.1% | -99.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSC | CCTG |
|---|---|---|
| 2022 | -66.2% | – |
| 2023 | +202.7% | – |
| 2024 | +121.1% | – |
| 2025 | +16.8% | -90.1% |
| 2026 | +3.7% | -55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSC and CCTG good diversifiers for each other?
Reasonably. At 0.39, AMSC and CCTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMSC and CCTG?
As of 2026-08-27, the correlation of weekly returns between AMSC and CCTG is 0.39 over 3 years, 0.43 over 1 year and n/a over 5 years.
Is CCTG a good diversifier for AMSC?
Reasonably. At 0.39, AMSC and CCTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: AMSC correlations · CCTG correlations
