BANL vs CDT: Correlation
How closely do CBL International Limited - Class B (BANL) and CDT Equity Inc. (CDT) trade together? Their weekly returns over three years give a correlation of 0.91, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANL and CDT?
Across a 3-year window, the weekly returns of BANL and CDT correlate at 0.91, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.98 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 382942.3 %².
Among the 10 assets we track against BANL, CDT ranks #4 by 3-year correlation. The last year tells two different stories: BANL led by 2089.8 percentage points, +1990.5% for BANL against -99.3% for CDT.
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.
BANL vs CDT: side by side
| BANL (CBL International Limited - Class B) | CDT (CDT Equity Inc.) | |
|---|---|---|
| 1-year return | +1990.5% | -99.3% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 767.2% | 546.1% |
| Beta vs S&P 500 | -1.45 | 0.29 |
| Max drawdown (3Y) | -85.8% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANL | CDT |
|---|---|---|
| 2023 | – | -55.6% |
| 2024 | -31.3% | -98.5% |
| 2025 | -55.9% | -99.8% |
| 2026 | +2911.2% | -94.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANL and CDT good diversifiers for each other?
No: a correlation of 0.91 means BANL and CDT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BANL and CDT?
Using weekly returns as of 2026-08-27: 0.91 over 3 years, with 0.98 over the last year and n/a over 5 years.
Is CDT a good diversifier for BANL?
No: a correlation of 0.91 means BANL and CDT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.91 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/banl-vs-cdt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/banl-vs-cdt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BANL correlations · CDT correlations
