CHR vs PLUG: Correlation
Measured on weekly returns over the past three years, Cheer Holding, Inc. - Class A (CHR) and Plug Power, Inc. (PLUG) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHR and PLUG?
On 3 years of weekly data the CHR/PLUG correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.34) runs below the 3-year figure (-0.20). The 5-year figure is -0.14, and annualized covariance runs at -1765.5 %².
Among the 20 assets we track against CHR, PLUG ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PLUG ahead by 139.0 points (-98.9% versus +40.1%).
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.
CHR vs PLUG: side by side
| CHR (Cheer Holding, Inc. - Class A) | PLUG (Plug Power, Inc.) | |
|---|---|---|
| 1-year return | -98.9% | +40.1% |
| 5-year return | -100.0% | -91.3% |
| Volatility (ann.) | 89.2% | 98.9% |
| Beta vs S&P 500 | 0.17 | 1.49 |
| Max drawdown (3Y) | -99.8% | -92.1% |
| Market cap | – | $3.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHR | PLUG |
|---|---|---|
| 2022 | +23.7% | -56.2% |
| 2023 | -78.5% | -63.6% |
| 2024 | -20.7% | -52.7% |
| 2025 | -99.0% | -7.5% |
| 2026 | -52.6% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHR and PLUG good diversifiers for each other?
Yes. With a correlation of -0.20, CHR and PLUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CHR and PLUG?
As of 2026-08-27, the correlation of weekly returns between CHR and PLUG is -0.20 over 3 years, -0.34 over 1 year and -0.14 over 5 years.
Is PLUG a good diversifier for CHR?
Yes. With a correlation of -0.20, CHR and PLUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Related comparisons
Hubs: CHR correlations · PLUG correlations
