CCLD vs GWAV: Correlation
How closely do CareCloud, Inc. (CCLD) and Greenwave Technology Solutions, Inc. (GWAV) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCLD and GWAV?
On 3 years of weekly data the CCLD/GWAV correlation comes out at 0.48, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.48). The 5-year figure is 0.42, and annualized covariance runs at 12721.1 %².
In CCLD's tracked universe of 15 assets, GWAV sits right near the top at #3. Correlation aside, the last 12 months split them widely, with CCLD ahead by 15.6 points (-28.3% versus -43.9%). Note the risk asymmetry: GWAV runs 1.7 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.
CCLD vs GWAV: side by side
| CCLD (CareCloud, Inc.) | GWAV (Greenwave Technology Solutions, Inc.) | |
|---|---|---|
| 1-year return | -28.3% | -43.9% |
| 5-year return | -67.7% | -100.0% |
| Volatility (ann.) | 126.0% | 209.4% |
| Beta vs S&P 500 | 2.06 | 2.43 |
| Max drawdown (3Y) | -74.2% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCLD | GWAV |
|---|---|---|
| 2022 | -55.5% | -93.8% |
| 2023 | -45.9% | -35.9% |
| 2024 | +140.8% | -99.2% |
| 2025 | -20.2% | -93.2% |
| 2026 | -8.9% | -17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCLD and GWAV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CCLD and GWAV?
As of 2026-08-27, the correlation of weekly returns between CCLD and GWAV is 0.48 over 3 years, 0.30 over 1 year and 0.42 over 5 years.
Is GWAV a good diversifier for CCLD?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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: CCLD correlations · GWAV correlations
