ASRV vs CDTG: Correlation
AmeriServ Financial Inc. (ASRV) and CDT Environmental Technology Investment Holdings Limited (CDTG) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and CDTG?
Across a 3-year window, the weekly returns of ASRV and CDTG correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.27). Stretching to 5 years gives n/a, with an annualized covariance of -1495.1 %².
CDTG is close to the least connected end of ASRV's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months ASRV outperformed by 155.9 percentage points (+63.3% for ASRV against -92.6% for CDTG). Note the risk asymmetry: CDTG runs 4.6 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.
ASRV vs CDTG: side by side
| ASRV (AmeriServ Financial Inc.) | CDTG (CDT Environmental Technology Investment Holdings Limited) | |
|---|---|---|
| 1-year return | +63.3% | -92.6% |
| 5-year return | +50.5% | n/a |
| Volatility (ann.) | 34.7% | 160.6% |
| Beta vs S&P 500 | 0.31 | 0.42 |
| Max drawdown (3Y) | -32.9% | -99.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.36% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASRV | CDTG |
|---|---|---|
| 2022 | +5.0% | – |
| 2023 | -14.5% | – |
| 2024 | -13.4% | – |
| 2025 | +24.3% | -92.2% |
| 2026 | +55.6% | -87.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and CDTG good diversifiers for each other?
Yes. With a correlation of -0.27, ASRV and CDTG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASRV and CDTG?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.12 over the last year and n/a over 5 years.
Is CDTG a good diversifier for ASRV?
Yes. With a correlation of -0.27, ASRV and CDTG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asrv-vs-cdtg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asrv-vs-cdtg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASRV correlations · CDTG correlations
