CTVA vs TOP: Correlation
Measured on weekly returns over the past three years, Corteva (CTVA) and TOP Financial Group Limited - Class A (TOP) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTVA and TOP?
Across a 3-year window, the weekly returns of CTVA and TOP correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.22). Stretching to 5 years gives -0.06, with an annualized covariance of -1386.9 %².
Out of 34 assets tracked against CTVA, TOP lands near the bottom at #31. Their recent paths diverged sharply: over the last 12 months TOP outperformed by 1207.0 percentage points (+10.9% for CTVA against +1217.9% for TOP). Note the risk asymmetry: TOP runs 8.6 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.
CTVA vs TOP: side by side
| CTVA (Corteva) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | +10.9% | +1217.9% |
| 5-year return | +98.2% | -9.2% |
| Volatility (ann.) | 26.8% | 230.2% |
| Beta vs S&P 500 | 0.43 | 1.60 |
| Max drawdown (3Y) | -20.7% | -89.6% |
| Market cap | $55.0B | $1.9B |
| P/E (trailing) | 50.2 | – |
| Dividend yield | 0.87% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CTVA | TOP |
|---|---|---|
| 2022 | +25.6% | – |
| 2023 | -17.5% | -22.5% |
| 2024 | +20.2% | -59.5% |
| 2025 | +18.9% | -34.3% |
| 2026 | +23.5% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTVA and TOP good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTVA and TOP?
As of 2026-08-27, the correlation of weekly returns between CTVA and TOP is -0.22 over 3 years, -0.47 over 1 year and -0.06 over 5 years.
Is TOP a good diversifier for CTVA?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/ctva-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctva-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTVA correlations · TOP correlations
