CLWT vs GEG: Correlation
How closely do Euro Tech Holdings Company Limited (CLWT) and Great Elm Group, Inc. (GEG) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLWT and GEG?
Over the past 3 years, CLWT and GEG moved with a correlation of 0.34, which is moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.34). Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 566.6 %².
Within CLWT's tracked universe of 16 assets, GEG comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CLWT ahead by 32.8 points (+22.4% versus -10.4%). Risk is not evenly split, since CLWT carries 1.5 times the volatility of the other side.
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.
CLWT vs GEG: side by side
| CLWT (Euro Tech Holdings Company Limited) | GEG (Great Elm Group, Inc.) | |
|---|---|---|
| 1-year return | +22.4% | -10.4% |
| 5-year return | -52.6% | -7.3% |
| Volatility (ann.) | 49.8% | 33.0% |
| Beta vs S&P 500 | 0.40 | 0.15 |
| Max drawdown (3Y) | -44.3% | -41.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | 83.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLWT | GEG |
|---|---|---|
| 2022 | -53.6% | -3.3% |
| 2023 | +14.7% | -4.0% |
| 2024 | -11.2% | -6.7% |
| 2025 | -13.7% | +40.9% |
| 2026 | +38.7% | -15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and GEG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CLWT and GEG?
The CLWT/GEG correlation stands at 0.34 on a 3-year window (1 year: 0.58, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is GEG a good diversifier for CLWT?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
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Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clwt-vs-geg/)
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Related comparisons
Hubs: CLWT correlations · GEG correlations
