CNR vs HTCO: Correlation
Core Natural Resources, Inc. (CNR) and High-Trend International Group - Class A (HTCO) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNR and HTCO?
Over the past 3 years, CNR and HTCO moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1456.3 %².
HTCO is close to the least connected end of CNR's tracked universe, ranking #11 of 13. Correlation aside, the last 12 months split them widely, with CNR ahead by 118.1 points (+40.3% versus -77.8%). Note the risk asymmetry: HTCO runs 3.3 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.
CNR vs HTCO: side by side
| CNR (Core Natural Resources, Inc.) | HTCO (High-Trend International Group - Class A) | |
|---|---|---|
| 1-year return | +40.3% | -77.8% |
| 5-year return | +395.6% | -98.9% |
| Volatility (ann.) | 43.9% | 143.5% |
| Beta vs S&P 500 | 0.53 | -0.60 |
| Max drawdown (3Y) | -52.1% | -97.5% |
| Market cap | $5.0B | – |
| P/E (trailing) | 49.3 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNR | HTCO |
|---|---|---|
| 2022 | +195.5% | -87.1% |
| 2023 | +60.7% | -63.0% |
| 2024 | +6.6% | +608.5% |
| 2025 | -16.6% | -89.9% |
| 2026 | +15.1% | -69.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNR and HTCO good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNR and HTCO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.27 over the last year and -0.18 over 5 years.
Is HTCO a good diversifier for CNR?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/cnr-vs-htco.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnr-vs-htco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNR correlations · HTCO correlations
