CLWT vs VTRS: Correlation
Euro Tech Holdings Company Limited (CLWT) and Viatris (VTRS) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLWT and VTRS?
Over the past 3 years, CLWT and VTRS moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.16 over 3 years. Over 5 years the correlation is 0.06, and the annualized covariance of weekly returns is -263.3 %².
Among the 16 assets we track against CLWT, VTRS ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VTRS ahead by 45.4 points (+22.4% versus +67.8%). 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 VTRS: side by side
| CLWT (Euro Tech Holdings Company Limited) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | +22.4% | +67.8% |
| 5-year return | -52.6% | +44.6% |
| Volatility (ann.) | 49.8% | 32.8% |
| Beta vs S&P 500 | 0.40 | 0.79 |
| Max drawdown (3Y) | -44.3% | -45.0% |
| Market cap | – | $19.4B |
| P/E (trailing) | 83.2 | – |
| Dividend yield | 0.00% | 2.85% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CLWT | VTRS |
|---|---|---|
| 2022 | -53.6% | -14.3% |
| 2023 | +14.7% | +2.1% |
| 2024 | -11.2% | +19.7% |
| 2025 | -13.7% | +5.1% |
| 2026 | +38.7% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and VTRS good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLWT and VTRS?
The CLWT/VTRS correlation stands at -0.16 on a 3-year window (1 year: -0.34, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is VTRS a good diversifier for CLWT?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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
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[](https://www.pairbook.io/pair/clwt-vs-vtrs/)
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Related comparisons
Hubs: CLWT correlations · VTRS correlations
