CETX vs PAX: Correlation
Cemtrex Inc. (CETX) and Patria Investments Limited - Class A (PAX) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CETX and PAX?
Across a 3-year window, the weekly returns of CETX and PAX correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.22, with an annualized covariance of 1323.2 %².
Few assets follow CETX as closely as PAX, which ranks #2 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with PAX ahead by 89.7 points (-98.5% versus -8.8%). Note the risk asymmetry: CETX runs 4.8 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.
CETX vs PAX: side by side
| CETX (Cemtrex Inc.) | PAX (Patria Investments Limited - Class A) | |
|---|---|---|
| 1-year return | -98.5% | -8.8% |
| 5-year return | -100.0% | -3.0% |
| Volatility (ann.) | 137.5% | 28.8% |
| Beta vs S&P 500 | 2.29 | 0.98 |
| Max drawdown (3Y) | -100.0% | -37.7% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 5.28% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CETX | PAX |
|---|---|---|
| 2022 | -84.9% | -9.9% |
| 2023 | +15.4% | +18.9% |
| 2024 | -100.0% | -20.0% |
| 2025 | -94.0% | +43.1% |
| 2026 | -89.5% | -23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CETX and PAX good diversifiers for each other?
Reasonably. At 0.33, CETX and PAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CETX and PAX?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.42 over the last year and 0.22 over 5 years.
Is PAX a good diversifier for CETX?
Reasonably. At 0.33, CETX and PAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/cetx-vs-pax.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cetx-vs-pax/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CETX correlations · PAX correlations
