CLGN vs LVWR: Correlation
How closely do CollPlant Biotechnologies Ltd. (CLGN) and LiveWire Group, Inc. (LVWR) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLGN and LVWR?
On 3 years of weekly data the CLGN/LVWR correlation comes out at 0.31, moderate. The past 12 months show a weaker link (-0.28) than the 3-year average (0.31). The 5-year figure is 0.26, and annualized covariance runs at 6338.2 %².
By 3-year correlation, LVWR places #4 of the 10 assets tracked against CLGN. The last year tells two different stories: LVWR led by 24.8 percentage points, -90.0% for CLGN against -65.2% for LVWR. Note the risk asymmetry: LVWR runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CLGN vs LVWR: side by side
| CLGN (CollPlant Biotechnologies Ltd.) | LVWR (LiveWire Group, Inc.) | |
|---|---|---|
| 1-year return | -90.0% | -65.2% |
| 5-year return | -98.3% | -86.0% |
| Volatility (ann.) | 87.8% | 230.4% |
| Beta vs S&P 500 | 0.37 | 2.09 |
| Max drawdown (3Y) | -96.4% | -94.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLGN | LVWR |
|---|---|---|
| 2022 | -49.0% | -51.5% |
| 2023 | -23.5% | +133.2% |
| 2024 | -43.7% | -57.5% |
| 2025 | -61.1% | -8.1% |
| 2026 | -79.3% | -69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLGN and LVWR good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLGN and LVWR?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with -0.28 over the last year and 0.26 over 5 years.
Is LVWR a good diversifier for CLGN?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 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/clgn-vs-lvwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clgn-vs-lvwr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLGN correlations · LVWR correlations
