CTNT vs GWAV: Correlation
Cheetah Net Supply Chain Service Inc. (CTNT) and Greenwave Technology Solutions, Inc. (GWAV) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTNT and GWAV?
On 3 years of weekly data the CTNT/GWAV correlation comes out at 0.74, strong. The past 12 months show a weaker link (0.05) than the 3-year average (0.74). The 5-year figure is n/a, and annualized covariance runs at 71276.3 %².
In CTNT's tracked universe of 21 assets, GWAV sits right near the top at #2. Correlation aside, the last 12 months split them widely, with GWAV ahead by 55.7 points (-99.6% versus -43.9%). Note the risk asymmetry: CTNT runs 2.2 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.
CTNT vs GWAV: side by side
| CTNT (Cheetah Net Supply Chain Service Inc.) | GWAV (Greenwave Technology Solutions, Inc.) | |
|---|---|---|
| 1-year return | -99.6% | -43.9% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 461.2% | 209.4% |
| Beta vs S&P 500 | 2.82 | 2.43 |
| Max drawdown (3Y) | -100.0% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTNT | GWAV |
|---|---|---|
| 2022 | – | -93.8% |
| 2023 | – | -35.9% |
| 2024 | -85.3% | -99.2% |
| 2025 | -61.4% | -93.2% |
| 2026 | -99.4% | -17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTNT and GWAV good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CTNT and GWAV?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.05 over the last year and n/a over 5 years.
Is GWAV a good diversifier for CTNT?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 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: CTNT correlations · GWAV correlations
