CDT vs UTZ: Correlation
How closely do CDT Equity Inc. (CDT) and Utz Brands Inc (UTZ) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDT and UTZ?
Over the past 3 years, CDT and UTZ moved with a correlation of 0.79, which is strong. The link has tightened recently: the 1-year correlation (0.91) runs above the 3-year figure (0.79). Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 28374.0 %².
By 3-year correlation, UTZ places #8 of the 20 assets tracked against CDT. Correlation aside, the last 12 months split them widely, with UTZ ahead by 107.6 points (-99.3% versus +8.3%). Note the risk asymmetry: CDT runs 8.3 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.
CDT vs UTZ: side by side
| CDT (CDT Equity Inc.) | UTZ (Utz Brands Inc) | |
|---|---|---|
| 1-year return | -99.3% | +8.3% |
| 5-year return | -100.0% | -16.7% |
| Volatility (ann.) | 546.1% | 65.9% |
| Beta vs S&P 500 | 0.29 | 0.07 |
| Max drawdown (3Y) | -100.0% | -63.8% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDT | UTZ |
|---|---|---|
| 2022 | – | +0.9% |
| 2023 | -55.6% | +3.9% |
| 2024 | -98.5% | -2.1% |
| 2025 | -99.8% | -32.3% |
| 2026 | -94.1% | +39.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDT and UTZ good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CDT and UTZ?
The CDT/UTZ correlation stands at 0.79 on a 3-year window (1 year: 0.91, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is UTZ a good diversifier for CDT?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdt-vs-utz.json
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Related comparisons
Hubs: CDT correlations · UTZ correlations
