CRGO vs MIND: Correlation
How closely do Freightos Limited (CRGO) and MIND Technology, Inc. (MIND) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and MIND?
Over the past 3 years, CRGO and MIND moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.34). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 2257.8 %².
Within CRGO's tracked universe of 12 assets, MIND comes in at #6 by 3-year correlation. On 12-month performance MIND holds a 5.8-point edge, -61.7% against -55.9%.
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.
CRGO vs MIND: side by side
| CRGO (Freightos Limited) | MIND (MIND Technology, Inc.) | |
|---|---|---|
| 1-year return | -61.7% | -55.9% |
| 5-year return | -86.7% | -77.3% |
| Volatility (ann.) | 82.7% | 79.5% |
| Beta vs S&P 500 | 1.79 | 0.91 |
| Max drawdown (3Y) | -72.6% | -70.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 27.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGO | MIND |
|---|---|---|
| 2022 | +4.2% | -72.8% |
| 2023 | -67.3% | +43.3% |
| 2024 | -8.4% | +20.5% |
| 2025 | -25.2% | +10.7% |
| 2026 | -43.0% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and MIND good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRGO and MIND?
The CRGO/MIND correlation stands at 0.34 on a 3-year window (1 year: 0.23, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is MIND a good diversifier for CRGO?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/crgo-vs-mind.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crgo-vs-mind/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRGO correlations · MIND correlations
