CHGA vs DRVN: Correlation
How closely do Change Agents Corporation (CHGA) and Driven Brands Holdings Inc. (DRVN) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGA and DRVN?
Across a 3-year window, the weekly returns of CHGA and DRVN correlate at -0.32, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.59) runs below the 3-year figure (-0.32). Stretching to 5 years gives -0.21, with an annualized covariance of -2082.3 %².
DRVN is close to the least connected end of CHGA's tracked universe, ranking #9 of 10. Correlation aside, the last 12 months split them widely, with DRVN ahead by 62.5 points (-93.7% versus -31.2%). One caveat on sizing: CHGA is 3.4 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.
CHGA vs DRVN: side by side
| CHGA (Change Agents Corporation) | DRVN (Driven Brands Holdings Inc.) | |
|---|---|---|
| 1-year return | -93.7% | -31.2% |
| 5-year return | -99.9% | -57.4% |
| Volatility (ann.) | 148.9% | 43.3% |
| Beta vs S&P 500 | 0.96 | 0.77 |
| Max drawdown (3Y) | -99.3% | -46.4% |
| Market cap | – | $2.1B |
| P/E (trailing) | 0.1 | 13.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGA | DRVN |
|---|---|---|
| 2022 | -36.6% | -18.8% |
| 2023 | -90.7% | -47.8% |
| 2024 | -55.0% | +13.2% |
| 2025 | -63.2% | -8.2% |
| 2026 | -89.1% | -14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGA and DRVN good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHGA and DRVN?
As of 2026-08-27, the correlation of weekly returns between CHGA and DRVN is -0.32 over 3 years, -0.59 over 1 year and -0.21 over 5 years.
Is DRVN a good diversifier for CHGA?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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/chga-vs-drvn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chga-vs-drvn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHGA correlations · DRVN correlations
