CDTG vs SKYW: Correlation
How closely do CDT Environmental Technology Investment Holdings Limited (CDTG) and SkyWest, Inc. (SKYW) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDTG and SKYW?
Over the past 3 years, CDTG and SKYW moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1486.2 %².
Among the 34 assets we track against CDTG, SKYW sits near the bottom by co-movement, at rank #33. Their recent paths diverged sharply: over the last 12 months SKYW outperformed by 73.3 percentage points (-92.6% for CDTG against -19.3% for SKYW). Risk is not evenly split, since CDTG carries 4.8 times the volatility of the other side.
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.
CDTG vs SKYW: side by side
| CDTG (CDT Environmental Technology Investment Holdings Limited) | SKYW (SkyWest, Inc.) | |
|---|---|---|
| 1-year return | -92.6% | -19.3% |
| 5-year return | n/a | +114.2% |
| Volatility (ann.) | 160.6% | 33.3% |
| Beta vs S&P 500 | 0.42 | 0.95 |
| Max drawdown (3Y) | -99.2% | -36.6% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDTG | SKYW |
|---|---|---|
| 2022 | – | -58.0% |
| 2023 | – | +216.2% |
| 2024 | – | +91.8% |
| 2025 | -92.2% | +0.3% |
| 2026 | -87.0% | -1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDTG and SKYW good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CDTG and SKYW?
The CDTG/SKYW correlation stands at -0.27 on a 3-year window (1 year: -0.28, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKYW a good diversifier for CDTG?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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: CDTG correlations · SKYW correlations
