CNEY vs MTVA: Correlation
Measured on weekly returns over the past three years, CN Energy Group Inc. - Class A (CNEY) and MetaVia Inc. (MTVA) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNEY and MTVA?
Over the past 3 years, CNEY and MTVA moved with a correlation of 0.47, which is moderate. The past 12 months show a tighter link (0.70) than the 3-year average (0.47). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 13684.2 %².
Few assets follow CNEY as closely as MTVA, which ranks #2 of 10 tracked partners. Their 12-month results are close: -73.4% for CNEY against -76.2% for MTVA.
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 MTVA: side by side
| CNEY (CN Energy Group Inc. - Class A) | MTVA (MetaVia Inc.) | |
|---|---|---|
| 1-year return | -73.4% | -76.2% |
| 5-year return | -100.0% | -100.0% |
| Volatility (ann.) | 169.1% | 173.6% |
| Beta vs S&P 500 | 1.83 | 1.46 |
| Max drawdown (3Y) | -99.7% | -98.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNEY | MTVA |
|---|---|---|
| 2022 | -73.2% | -98.0% |
| 2023 | -91.3% | -35.6% |
| 2024 | -84.3% | -45.1% |
| 2025 | -92.2% | -62.3% |
| 2026 | -0.1% | -80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNEY and MTVA good diversifiers for each other?
Reasonably. At 0.47, CNEY and MTVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNEY and MTVA?
As of 2026-08-27, the correlation of weekly returns between CNEY and MTVA is 0.47 over 3 years, 0.70 over 1 year and 0.32 over 5 years.
Is MTVA a good diversifier for CNEY?
Reasonably. At 0.47, CNEY and MTVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/cney-vs-mtva.json
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Related comparisons
Hubs: CNEY correlations · MTVA correlations
