CBAT vs SLDP: Correlation
Measured on weekly returns over the past three years, CBAK Energy Technology Limited (CBAT) and Solid Power, Inc. (SLDP) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBAT and SLDP?
Over the past 3 years, CBAT and SLDP moved with a correlation of 0.38, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.38 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 1989.1 %².
Among the 10 assets we track against CBAT, SLDP ranks #4 by 3-year correlation. The last year tells two different stories: CBAT led by 40.3 percentage points, -6.1% for CBAT against -46.4% for SLDP.
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 SLDP: side by side
| CBAT (CBAK Energy Technology Limited) | SLDP (Solid Power, Inc.) | |
|---|---|---|
| 1-year return | -6.1% | -46.4% |
| 5-year return | -73.0% | -76.1% |
| Volatility (ann.) | 60.3% | 87.4% |
| Beta vs S&P 500 | 0.75 | 1.88 |
| Max drawdown (3Y) | -74.1% | -76.5% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBAT | SLDP |
|---|---|---|
| 2022 | -36.5% | -70.9% |
| 2023 | +6.1% | -42.9% |
| 2024 | -10.5% | +30.3% |
| 2025 | -10.6% | +124.9% |
| 2026 | +2.8% | -44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBAT and SLDP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CBAT and SLDP?
The CBAT/SLDP correlation stands at 0.38 on a 3-year window (1 year: 0.18, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is SLDP a good diversifier for CBAT?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: CBAT correlations · SLDP correlations
