CRNC vs THCH: Correlation
Cerence Inc. (CRNC) and TH International Limited (THCH) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNC and THCH?
On 3 years of weekly data the CRNC/THCH correlation comes out at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.39 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 3406.6 %².
Among the 21 assets we track against CRNC, THCH ranks #14 by 3-year correlation. The last year tells two different stories: CRNC led by 28.8 percentage points, -19.8% for CRNC against -48.6% for THCH. One caveat on sizing: CRNC is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 THCH: side by side
| CRNC (Cerence Inc.) | THCH (TH International Limited) | |
|---|---|---|
| 1-year return | -19.8% | -48.6% |
| 5-year return | -92.5% | -97.4% |
| Volatility (ann.) | 136.3% | 64.2% |
| Beta vs S&P 500 | 2.35 | 0.34 |
| Max drawdown (3Y) | -90.9% | -90.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNC | THCH |
|---|---|---|
| 2022 | -75.8% | -71.7% |
| 2023 | +6.1% | -37.1% |
| 2024 | -60.1% | -59.4% |
| 2025 | +36.2% | -29.9% |
| 2026 | -21.3% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNC and THCH good diversifiers for each other?
Reasonably. At 0.39, CRNC and THCH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRNC and THCH?
The CRNC/THCH correlation stands at 0.39 on a 3-year window (1 year: 0.26, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is THCH a good diversifier for CRNC?
Reasonably. At 0.39, CRNC and THCH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/crnc-vs-thch.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crnc-vs-thch/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRNC correlations · THCH correlations
