CTNT vs SPWR: Correlation
Measured on weekly returns over the past three years, Cheetah Net Supply Chain Service Inc. (CTNT) and SunPower Inc. (SPWR) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTNT and SPWR?
On 3 years of weekly data the CTNT/SPWR correlation comes out at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.07 versus 0.49 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 33021.6 %².
Among the 21 assets we track against CTNT, SPWR ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPWR outperformed by 19.2 percentage points (-99.6% for CTNT against -80.4% for SPWR). Note the risk asymmetry: CTNT runs 3.2 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 SPWR: side by side
| CTNT (Cheetah Net Supply Chain Service Inc.) | SPWR (SunPower Inc.) | |
|---|---|---|
| 1-year return | -99.6% | -80.4% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 461.2% | 146.1% |
| Beta vs S&P 500 | 2.82 | 1.97 |
| Max drawdown (3Y) | -100.0% | -92.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTNT | SPWR |
|---|---|---|
| 2024 | -85.3% | +11.5% |
| 2025 | -61.4% | -12.3% |
| 2026 | -99.4% | -81.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTNT and SPWR good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CTNT and SPWR?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.07 over the last year and n/a over 5 years.
Is SPWR a good diversifier for CTNT?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/ctnt-vs-spwr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctnt-vs-spwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTNT correlations · SPWR correlations
