CAF vs VEEE: Correlation
Measured on weekly returns over the past three years, Morgan Stanley China A Share Fund Inc. (CAF) and Twin Vee PowerCats Co. (VEEE) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAF and VEEE?
Over the past 3 years, CAF and VEEE moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.44) than the 3-year average (-0.23). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -1946.3 %².
Among the 14 assets we track against CAF, VEEE sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with CAF ahead by 116.0 points (+29.7% versus -86.3%). One caveat on sizing: VEEE is 20.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CAF vs VEEE: side by side
| CAF (Morgan Stanley China A Share Fund Inc.) | VEEE (Twin Vee PowerCats Co.) | |
|---|---|---|
| 1-year return | +29.7% | -86.3% |
| 5-year return | +4.1% | -99.4% |
| Volatility (ann.) | 20.4% | 421.0% |
| Beta vs S&P 500 | 0.48 | -1.03 |
| Max drawdown (3Y) | -26.3% | -99.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAF | VEEE |
|---|---|---|
| 2022 | -30.4% | -54.4% |
| 2023 | -9.4% | -22.4% |
| 2024 | +0.3% | -61.3% |
| 2025 | +41.5% | -68.4% |
| 2026 | +9.7% | -84.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAF and VEEE good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAF and VEEE?
The CAF/VEEE correlation stands at -0.23 on a 3-year window (1 year: -0.44, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is VEEE a good diversifier for CAF?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CAF correlations · VEEE correlations
