ASC vs CMBT: Correlation
Ardmore Shipping Corporation (ASC) and CMB.TECH NV (CMBT) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and CMBT?
Across a 3-year window, the weekly returns of ASC and CMBT correlate at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 849.5 %².
Among the 14 assets we track against ASC, CMBT ranks #7 by 3-year correlation. The last year tells two different stories: CMBT led by 86.0 percentage points, +58.0% for ASC against +144.0% for CMBT.
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.
ASC vs CMBT: side by side
| ASC (Ardmore Shipping Corporation) | CMBT (CMB.TECH NV) | |
|---|---|---|
| 1-year return | +58.0% | +144.0% |
| 5-year return | +514.4% | +306.2% |
| Volatility (ann.) | 38.9% | 38.0% |
| Beta vs S&P 500 | 0.31 | 0.67 |
| Max drawdown (3Y) | -61.4% | -57.2% |
| Market cap | $0.7B | $5.3B |
| P/E (trailing) | 6.9 | 10.2 |
| Dividend yield | 8.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASC | CMBT |
|---|---|---|
| 2022 | +326.3% | +93.2% |
| 2023 | +5.8% | +26.3% |
| 2024 | -8.2% | -22.7% |
| 2025 | -11.1% | -2.8% |
| 2026 | +71.7% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and CMBT good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASC and CMBT?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.62 over the last year and 0.57 over 5 years.
Is CMBT a good diversifier for ASC?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/asc-vs-cmbt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asc-vs-cmbt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASC correlations · CMBT correlations
