APWC vs CLWT: Correlation
Asia Pacific Wire & Cable Corporation Limited (APWC) and Euro Tech Holdings Company Limited (CLWT) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APWC and CLWT?
On 3 years of weekly data the APWC/CLWT correlation comes out at 0.40, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.40). The 5-year figure is 0.33, and annualized covariance runs at 975.1 %².
In APWC's tracked universe of 11 assets, CLWT sits right near the top at #1. Correlation aside, the last 12 months split them widely, with CLWT ahead by 44.5 points (-22.1% versus +22.4%).
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.
APWC vs CLWT: side by side
| APWC (Asia Pacific Wire & Cable Corporation Limited) | CLWT (Euro Tech Holdings Company Limited) | |
|---|---|---|
| 1-year return | -22.1% | +22.4% |
| 5-year return | -59.0% | -52.6% |
| Volatility (ann.) | 48.8% | 49.8% |
| Beta vs S&P 500 | 0.50 | 0.40 |
| Max drawdown (3Y) | -42.4% | -44.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 5.0 | 83.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APWC | CLWT |
|---|---|---|
| 2022 | -29.4% | -53.6% |
| 2023 | -13.2% | +14.7% |
| 2024 | +17.6% | -11.2% |
| 2025 | +26.5% | -13.7% |
| 2026 | -24.2% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APWC and CLWT good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APWC and CLWT?
As of 2026-08-27, the correlation of weekly returns between APWC and CLWT is 0.40 over 3 years, 0.66 over 1 year and 0.33 over 5 years.
Is CLWT a good diversifier for APWC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apwc-vs-clwt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apwc-vs-clwt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APWC correlations · CLWT correlations
