CBAT vs CTEV: Correlation
How closely do CBAK Energy Technology Limited (CBAT) and Claritev Corporation (CTEV) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBAT and CTEV?
On 3 years of weekly data the CBAT/CTEV correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.40 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 3880.7 %².
CTEV is one of the assets that tracks CBAT most closely: it ranks #1 out of the 10 assets we track against CBAT. Their recent paths diverged sharply: over the last 12 months CBAT outperformed by 39.9 percentage points (-6.1% for CBAT against -46.0% for CTEV). Note the risk asymmetry: CTEV runs 2.7 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.
CBAT vs CTEV: side by side
| CBAT (CBAK Energy Technology Limited) | CTEV (Claritev Corporation) | |
|---|---|---|
| 1-year return | -6.1% | -46.0% |
| 5-year return | -73.0% | -83.9% |
| Volatility (ann.) | 60.3% | 161.9% |
| Beta vs S&P 500 | 0.75 | 1.96 |
| Max drawdown (3Y) | -74.1% | -93.4% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBAT | CTEV |
|---|---|---|
| 2022 | -36.5% | -74.0% |
| 2023 | +6.1% | +25.2% |
| 2024 | -10.5% | -74.3% |
| 2025 | -10.6% | +189.2% |
| 2026 | +2.8% | -9.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBAT and CTEV good diversifiers for each other?
Reasonably. At 0.40, CBAT and CTEV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CBAT and CTEV?
The CBAT/CTEV correlation stands at 0.40 on a 3-year window (1 year: 0.23, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is CTEV a good diversifier for CBAT?
Reasonably. At 0.40, CBAT and CTEV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbat-vs-ctev.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cbat-vs-ctev/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBAT correlations · CTEV correlations
