CNET vs TOP: Correlation
ZW Data Action Technologies Inc. (CNET) and TOP Financial Group Limited - Class A (TOP) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNET and TOP?
Across a 3-year window, the weekly returns of CNET and TOP correlate at 0.55, moderate. The past 12 months show a tighter link (0.76) than the 3-year average (0.55). Stretching to 5 years gives 0.13, with an annualized covariance of 13353.3 %².
Few assets follow CNET as closely as TOP, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months TOP outperformed by 1221.9 percentage points (-4.0% for CNET against +1217.9% for TOP). Risk is not evenly split, since TOP carries 2.2 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.
CNET vs TOP: side by side
| CNET (ZW Data Action Technologies Inc.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -4.0% | +1217.9% |
| 5-year return | -94.9% | -9.2% |
| Volatility (ann.) | 104.7% | 230.2% |
| Beta vs S&P 500 | 1.46 | 1.60 |
| Max drawdown (3Y) | -85.2% | -89.6% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNET | TOP |
|---|---|---|
| 2022 | -54.0% | – |
| 2023 | -63.9% | -22.5% |
| 2024 | -45.8% | -59.5% |
| 2025 | -24.4% | -34.3% |
| 2026 | +6.6% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNET and TOP good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CNET and TOP?
The CNET/TOP correlation stands at 0.55 on a 3-year window (1 year: 0.76, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is TOP a good diversifier for CNET?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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
$ curl https://www.pairbook.io/api/v1/pairs/cnet-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnet-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNET correlations · TOP correlations
