CLWT vs NEOV: Correlation
Euro Tech Holdings Company Limited (CLWT) and NeoVolta Inc. (NEOV) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLWT and NEOV?
Across a 3-year window, the weekly returns of CLWT and NEOV correlate at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.41 over 3 years. Stretching to 5 years gives 0.23, with an annualized covariance of 2248.0 %².
Few assets follow CLWT as closely as NEOV, which ranks #3 of 16 tracked partners. Correlation aside, the last 12 months split them widely, with CLWT ahead by 21.0 points (+22.4% versus +1.4%). Note the risk asymmetry: NEOV runs 2.2 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.
CLWT vs NEOV: side by side
| CLWT (Euro Tech Holdings Company Limited) | NEOV (NeoVolta Inc.) | |
|---|---|---|
| 1-year return | +22.4% | +1.4% |
| 5-year return | -52.6% | -45.4% |
| Volatility (ann.) | 49.8% | 111.0% |
| Beta vs S&P 500 | 0.40 | 1.32 |
| Max drawdown (3Y) | -44.3% | -79.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | 83.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLWT | NEOV |
|---|---|---|
| 2022 | -53.6% | -60.2% |
| 2023 | +14.7% | -42.7% |
| 2024 | -11.2% | +225.6% |
| 2025 | -13.7% | -41.7% |
| 2026 | +38.7% | +16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and NEOV good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLWT and NEOV?
The CLWT/NEOV correlation stands at 0.41 on a 3-year window (1 year: 0.53, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is NEOV a good diversifier for CLWT?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clwt-vs-neov.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clwt-vs-neov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLWT correlations · NEOV correlations
