CD vs MVST: Correlation
How closely do Chaince Digital Holdings Inc. - American (CD) and Microvast Holdings, Inc. (MVST) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and MVST?
Over the past 3 years, CD and MVST moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.52). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 20598.5 %².
By 3-year correlation, MVST places #4 of the 15 assets tracked against CD. The last year tells two different stories: CD led by 31.4 percentage points, -39.8% for CD against -71.2% for MVST.
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.
CD vs MVST: side by side
| CD (Chaince Digital Holdings Inc. - American) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | -39.8% | -71.2% |
| 5-year return | +1.2% | -91.6% |
| Volatility (ann.) | 189.9% | 209.2% |
| Beta vs S&P 500 | 1.02 | 0.26 |
| Max drawdown (3Y) | -92.6% | -92.8% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | MVST |
|---|---|---|
| 2022 | -64.8% | -73.0% |
| 2023 | +109.5% | -8.5% |
| 2024 | +162.7% | +47.9% |
| 2025 | -27.2% | +35.3% |
| 2026 | -31.2% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and MVST good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CD and MVST?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.16 over the last year and 0.42 over 5 years.
Is MVST a good diversifier for CD?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/cd-vs-mvst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cd-vs-mvst/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CD correlations · MVST correlations
