CLWT vs INCY: Correlation
Measured on weekly returns over the past three years, Euro Tech Holdings Company Limited (CLWT) and Incyte (INCY) 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 CLWT and INCY?
Across a 3-year window, the weekly returns of CLWT and INCY correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.55) runs below the 3-year figure (-0.20). Stretching to 5 years gives -0.11, with an annualized covariance of -321.8 %².
Among the 16 assets we track against CLWT, INCY sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with INCY ahead by 28.2 points (+22.4% versus +50.6%). One caveat on sizing: CLWT is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 INCY: side by side
| CLWT (Euro Tech Holdings Company Limited) | INCY (Incyte) | |
|---|---|---|
| 1-year return | +22.4% | +50.6% |
| 5-year return | -52.6% | +68.0% |
| Volatility (ann.) | 49.8% | 33.1% |
| Beta vs S&P 500 | 0.40 | 0.45 |
| Max drawdown (3Y) | -44.3% | -33.8% |
| Market cap | – | $25.9B |
| P/E (trailing) | 83.2 | 16.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CLWT | INCY |
|---|---|---|
| 2022 | -53.6% | +9.4% |
| 2023 | +14.7% | -21.8% |
| 2024 | -11.2% | +10.0% |
| 2025 | -13.7% | +43.0% |
| 2026 | +38.7% | +29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and INCY good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLWT and INCY?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.55 over the last year and -0.11 over 5 years.
Is INCY a good diversifier for CLWT?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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: CLWT correlations · INCY correlations
