CNEY vs MI: Correlation
How closely do CN Energy Group Inc. - Class A (CNEY) and NFT Limited Class A (MI) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNEY and MI?
Across a 3-year window, the weekly returns of CNEY and MI correlate at 0.45, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.45). Stretching to 5 years gives 0.36, with an annualized covariance of 336151.0 %².
In CNEY's tracked universe of 10 assets, MI sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months MI outperformed by 63.1 percentage points (-73.4% for CNEY against -10.3% for MI). Risk is not evenly split, since MI carries 26.3 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.
CNEY vs MI: side by side
| CNEY (CN Energy Group Inc. - Class A) | MI (NFT Limited Class A) | |
|---|---|---|
| 1-year return | -73.4% | -10.3% |
| 5-year return | -100.0% | -99.5% |
| Volatility (ann.) | 169.1% | 4443.9% |
| Beta vs S&P 500 | 1.83 | 8.21 |
| Max drawdown (3Y) | -99.7% | -98.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNEY | MI |
|---|---|---|
| 2022 | -73.2% | -86.4% |
| 2023 | -91.3% | -66.2% |
| 2024 | -84.3% | -61.9% |
| 2025 | -92.2% | +13.3% |
| 2026 | -0.1% | -28.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNEY and MI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNEY and MI?
As of 2026-08-27, the correlation of weekly returns between CNEY and MI is 0.45 over 3 years, 0.69 over 1 year and 0.36 over 5 years.
Is MI a good diversifier for CNEY?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cney-vs-mi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cney-vs-mi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNEY correlations · MI correlations
