CARG vs CYD: Correlation
Measured on weekly returns over the past three years, CarGurus, Inc. (CARG) and China Yuchai International Limited (CYD) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and CYD?
On 3 years of weekly data the CARG/CYD correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. The 5-year figure is -0.08, and annualized covariance runs at -618.8 %².
Out of 17 assets tracked against CARG, CYD lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months CYD outperformed by 19.9 percentage points (+6.1% for CARG against +26.0% for CYD). Note the risk asymmetry: CYD runs 1.6 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.
CARG vs CYD: side by side
| CARG (CarGurus, Inc.) | CYD (China Yuchai International Limited) | |
|---|---|---|
| 1-year return | +6.1% | +26.0% |
| 5-year return | +17.1% | +236.2% |
| Volatility (ann.) | 39.4% | 64.2% |
| Beta vs S&P 500 | 1.12 | 1.06 |
| Max drawdown (3Y) | -37.9% | -44.5% |
| Market cap | $3.2B | – |
| P/E (trailing) | 18.6 | 13.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARG | CYD |
|---|---|---|
| 2022 | -58.4% | -50.3% |
| 2023 | +72.4% | +21.6% |
| 2024 | +51.2% | +17.7% |
| 2025 | +5.0% | +281.2% |
| 2026 | -5.2% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and CYD good diversifiers for each other?
Yes. With a correlation of -0.24, CARG and CYD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CARG and CYD?
The CARG/CYD correlation stands at -0.24 on a 3-year window (1 year: -0.30, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is CYD a good diversifier for CARG?
Yes. With a correlation of -0.24, CARG and CYD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/carg-vs-cyd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/carg-vs-cyd/)
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Related comparisons
Hubs: CARG correlations · CYD correlations
