CRNC vs CVU: Correlation
How closely do Cerence Inc. (CRNC) and CPI Aerostructures, Inc. (CVU) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNC and CVU?
Across a 3-year window, the weekly returns of CRNC and CVU correlate at 0.31, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.31 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 2345.1 %².
By 3-year correlation, CVU places #15 of the 21 assets tracked against CRNC. The last year tells two different stories: CVU led by 139.6 percentage points, -19.8% for CRNC against +119.8% for CVU. Note the risk asymmetry: CRNC runs 2.5 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.
CRNC vs CVU: side by side
| CRNC (Cerence Inc.) | CVU (CPI Aerostructures, Inc.) | |
|---|---|---|
| 1-year return | -19.8% | +119.8% |
| 5-year return | -92.5% | +71.7% |
| Volatility (ann.) | 136.3% | 55.3% |
| Beta vs S&P 500 | 2.35 | 0.70 |
| Max drawdown (3Y) | -90.9% | -63.8% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNC | CVU |
|---|---|---|
| 2022 | -75.8% | +17.2% |
| 2023 | +6.1% | -14.7% |
| 2024 | -60.1% | +48.4% |
| 2025 | +36.2% | -2.2% |
| 2026 | -21.3% | +34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNC and CVU good diversifiers for each other?
Reasonably. At 0.31, CRNC and CVU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRNC and CVU?
As of 2026-08-27, the correlation of weekly returns between CRNC and CVU is 0.31 over 3 years, 0.39 over 1 year and 0.21 over 5 years.
Is CVU a good diversifier for CRNC?
Reasonably. At 0.31, CRNC and CVU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 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.
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Related comparisons
Hubs: CRNC correlations · CVU correlations
