AWX vs MVST: Correlation
Avalon Holdings Corporation (AWX) and Microvast Holdings, Inc. (MVST) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWX and MVST?
Across a 3-year window, the weekly returns of AWX and MVST correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (-0.03) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.23, with an annualized covariance of 2541.0 %².
Among the 12 assets we track against AWX, MVST ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AWX outperformed by 80.1 percentage points (+8.9% for AWX against -71.2% for MVST). Note the risk asymmetry: MVST runs 6.0 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.
AWX vs MVST: side by side
| AWX (Avalon Holdings Corporation) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | +8.9% | -71.2% |
| 5-year return | -37.9% | -91.6% |
| Volatility (ann.) | 35.1% | 209.2% |
| Beta vs S&P 500 | 0.10 | 0.26 |
| Max drawdown (3Y) | -51.9% | -92.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWX | MVST |
|---|---|---|
| 2022 | -23.8% | -73.0% |
| 2023 | -13.1% | -8.5% |
| 2024 | +61.9% | +47.9% |
| 2025 | -30.5% | +35.3% |
| 2026 | +0.4% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWX and MVST good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AWX and MVST?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with -0.03 over the last year and 0.23 over 5 years.
Is MVST a good diversifier for AWX?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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/awx-vs-mvst.json
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Related comparisons
Hubs: AWX correlations · MVST correlations
