CLWT vs SPH: Correlation
Euro Tech Holdings Company Limited (CLWT) and Suburban Propane Partners, L.P. (SPH) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLWT and SPH?
Across a 3-year window, the weekly returns of CLWT and SPH correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.25 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -317.9 %².
Out of 16 assets tracked against CLWT, SPH lands near the bottom at #16. The last year tells two different stories: CLWT led by 21.7 percentage points, +22.4% for CLWT against +0.7% for SPH. Note the risk asymmetry: CLWT runs 2.0 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 SPH: side by side
| CLWT (Euro Tech Holdings Company Limited) | SPH (Suburban Propane Partners, L.P.) | |
|---|---|---|
| 1-year return | +22.4% | +0.7% |
| 5-year return | -52.6% | +66.9% |
| Volatility (ann.) | 49.8% | 25.4% |
| Beta vs S&P 500 | 0.40 | 0.23 |
| Max drawdown (3Y) | -44.3% | -20.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | 83.2 | 9.1 |
| Dividend yield | 0.00% | 7.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLWT | SPH |
|---|---|---|
| 2022 | -53.6% | +12.3% |
| 2023 | +14.7% | +27.0% |
| 2024 | -11.2% | +3.8% |
| 2025 | -13.7% | +15.2% |
| 2026 | +38.7% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and SPH good diversifiers for each other?
Yes. With a correlation of -0.25, CLWT and SPH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLWT and SPH?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.40 over the last year and -0.05 over 5 years.
Is SPH a good diversifier for CLWT?
Yes. With a correlation of -0.25, CLWT and SPH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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-sph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clwt-vs-sph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLWT correlations · SPH correlations
