CHGA vs XWEL: Correlation
How closely do Change Agents Corporation (CHGA) and XWELL, Inc. (XWEL) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGA and XWEL?
Over the past 3 years, CHGA and XWEL moved with a correlation of 0.61, which is strong. The link has tightened recently: the 1-year correlation (0.86) runs above the 3-year figure (0.61). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 17208.6 %².
In CHGA's tracked universe of 10 assets, XWEL sits right near the top at #1. The last year tells two different stories: XWEL led by 86.2 percentage points, -93.7% for CHGA against -7.5% for XWEL.
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 XWEL: side by side
| CHGA (Change Agents Corporation) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -93.7% | -7.5% |
| 5-year return | -99.9% | -97.2% |
| Volatility (ann.) | 148.9% | 188.4% |
| Beta vs S&P 500 | 0.96 | 0.41 |
| Max drawdown (3Y) | -99.3% | -92.8% |
| Market cap | – | – |
| P/E (trailing) | 0.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGA | XWEL |
|---|---|---|
| 2022 | -36.6% | -82.2% |
| 2023 | -90.7% | -75.8% |
| 2024 | -55.0% | -13.2% |
| 2025 | -63.2% | -69.5% |
| 2026 | -89.1% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGA and XWEL good diversifiers for each other?
Only partially. A correlation of 0.61 means CHGA and XWEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHGA and XWEL?
The CHGA/XWEL correlation stands at 0.61 on a 3-year window (1 year: 0.86, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is XWEL a good diversifier for CHGA?
Only partially. A correlation of 0.61 means CHGA and XWEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chga-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chga-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHGA correlations · XWEL correlations
