AREN vs MVST: Correlation
The Arena Group Holdings, Inc. (AREN) and Microvast Holdings, Inc. (MVST) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and MVST?
Across a 3-year window, the weekly returns of AREN and MVST correlate at 0.63, strong. The past 12 months show a weaker link (0.22) than the 3-year average (0.63). Stretching to 5 years gives 0.54, with an annualized covariance of 20885.8 %².
MVST is one of the assets that tracks AREN most closely: it ranks #2 out of the 22 assets we track against AREN. On 12-month performance MVST holds a 13.6-point edge, -84.8% against -71.2%.
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.
AREN vs MVST: side by side
| AREN (The Arena Group Holdings, Inc.) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | -84.8% | -71.2% |
| 5-year return | -93.0% | -91.6% |
| Volatility (ann.) | 157.6% | 209.2% |
| Beta vs S&P 500 | 0.49 | 0.26 |
| Max drawdown (3Y) | -91.7% | -92.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREN | MVST |
|---|---|---|
| 2022 | -24.6% | -73.0% |
| 2023 | -77.6% | -8.5% |
| 2024 | -43.7% | +47.9% |
| 2025 | +198.5% | +35.3% |
| 2026 | -76.5% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and MVST good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AREN and MVST?
As of 2026-08-27, the correlation of weekly returns between AREN and MVST is 0.63 over 3 years, 0.22 over 1 year and 0.54 over 5 years.
Is MVST a good diversifier for AREN?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aren-vs-mvst.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: AREN correlations · MVST correlations
