CHNR vs TANH: Correlation
How closely do China Natural Resources, Inc. (CHNR) and Tantech Holdings Ltd. - Class A (TANH) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHNR and TANH?
On 3 years of weekly data the CHNR/TANH correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.37 over 3. The 5-year figure is 0.25, and annualized covariance runs at 3197.9 %².
By 3-year correlation, TANH places #16 of the 22 assets tracked against CHNR. The last year tells two different stories: CHNR led by 89.2 percentage points, +8.2% for CHNR against -81.0% for TANH.
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.
CHNR vs TANH: side by side
| CHNR (China Natural Resources, Inc.) | TANH (Tantech Holdings Ltd. - Class A) | |
|---|---|---|
| 1-year return | +8.2% | -81.0% |
| 5-year return | -91.7% | -100.0% |
| Volatility (ann.) | 83.4% | 104.0% |
| Beta vs S&P 500 | 0.65 | 1.09 |
| Max drawdown (3Y) | -88.4% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHNR | TANH |
|---|---|---|
| 2022 | -34.5% | -98.1% |
| 2023 | -16.3% | -44.7% |
| 2024 | -57.2% | -82.3% |
| 2025 | -33.8% | -88.2% |
| 2026 | +13.9% | -62.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHNR and TANH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHNR and TANH?
The CHNR/TANH correlation stands at 0.37 on a 3-year window (1 year: 0.32, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is TANH a good diversifier for CHNR?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: CHNR correlations · TANH correlations
