CD vs NPWR: Correlation
Chaince Digital Holdings Inc. - American (CD) and NET Power Inc. (NPWR) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CD and NPWR?
Over the past 3 years, CD and NPWR moved with a correlation of 0.35, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.46 versus 0.35 over 3 years. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 5329.1 %².
By 3-year correlation, NPWR places #8 of the 15 assets tracked against CD. The trailing year gives NPWR the advantage: -39.8% versus -28.1%, a 11.7-point spread. Note the risk asymmetry: CD runs 2.4 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.
CD vs NPWR: side by side
| CD (Chaince Digital Holdings Inc. - American) | NPWR (NET Power Inc.) | |
|---|---|---|
| 1-year return | -39.8% | -28.1% |
| 5-year return | +1.2% | -80.6% |
| Volatility (ann.) | 189.9% | 80.8% |
| Beta vs S&P 500 | 1.02 | 1.46 |
| Max drawdown (3Y) | -92.6% | -91.8% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CD | NPWR |
|---|---|---|
| 2022 | -64.8% | +1.7% |
| 2023 | +109.5% | -0.7% |
| 2024 | +162.7% | +4.9% |
| 2025 | -27.2% | -78.5% |
| 2026 | -31.2% | -17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CD and NPWR good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CD and NPWR?
The CD/NPWR correlation stands at 0.35 on a 3-year window (1 year: 0.46, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is NPWR a good diversifier for CD?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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-npwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cd-vs-npwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CD correlations · NPWR correlations
