CETY vs GMED: Correlation
How closely do Clean Energy Technologies, Inc. (CETY) and Globus Medical, Inc. (GMED) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CETY and GMED?
Over the past 3 years, CETY and GMED moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -866.1 %².
Among the 10 assets we track against CETY, GMED sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with GMED ahead by 108.3 points (-74.1% versus +34.2%). One caveat on sizing: CETY is 2.5 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.
CETY vs GMED: side by side
| CETY (Clean Energy Technologies, Inc.) | GMED (Globus Medical, Inc.) | |
|---|---|---|
| 1-year return | -74.1% | +34.2% |
| 5-year return | n/a | +0.4% |
| Volatility (ann.) | 102.9% | 41.6% |
| Beta vs S&P 500 | 0.53 | 0.74 |
| Max drawdown (3Y) | -98.5% | -44.4% |
| Market cap | – | $11.1B |
| P/E (trailing) | – | 21.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CETY | GMED |
|---|---|---|
| 2022 | – | +2.9% |
| 2023 | – | -28.2% |
| 2024 | -59.1% | +55.2% |
| 2025 | -92.1% | +5.6% |
| 2026 | +35.2% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CETY and GMED good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CETY and GMED?
As of 2026-08-27, the correlation of weekly returns between CETY and GMED is -0.20 over 3 years, -0.27 over 1 year and n/a over 5 years.
Is GMED a good diversifier for CETY?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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
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Related comparisons
Hubs: CETY correlations · GMED correlations
