CDTG vs WAB: Correlation
CDT Environmental Technology Investment Holdings Limited (CDTG) and Wabtec (WAB) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDTG and WAB?
Across a 3-year window, the weekly returns of CDTG and WAB correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -955.9 %².
Within CDTG's tracked universe of 34 assets, WAB comes in at #22 by 3-year correlation. The last year tells two different stories: WAB led by 145.5 percentage points, -92.6% for CDTG against +52.9% for WAB. One caveat on sizing: CDTG is 6.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WAB: side by side
| CDTG (CDT Environmental Technology Investment Holdings Limited) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | -92.6% | +52.9% |
| 5-year return | n/a | +241.0% |
| Volatility (ann.) | 160.6% | 25.3% |
| Beta vs S&P 500 | 0.42 | 0.99 |
| Max drawdown (3Y) | -99.2% | -23.6% |
| Market cap | – | $50.2B |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CDTG | WAB |
|---|---|---|
| 2022 | – | +9.1% |
| 2023 | – | +28.0% |
| 2024 | – | +50.1% |
| 2025 | -92.2% | +13.2% |
| 2026 | -87.0% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDTG and WAB good diversifiers for each other?
Yes. With a correlation of -0.22, CDTG and WAB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDTG and WAB?
The CDTG/WAB correlation stands at -0.22 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WAB a good diversifier for CDTG?
Yes. With a correlation of -0.22, CDTG and WAB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdtg-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdtg-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDTG correlations · WAB correlations
