CVGI vs KVHI: Correlation
Commercial Vehicle Group, Inc. (CVGI) and KVH Industries, Inc. (KVHI) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVGI and KVHI?
Over the past 3 years, CVGI and KVHI moved with a correlation of 0.33, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.44 versus 0.33 over 3 years. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 1118.1 %².
Within CVGI's tracked universe of 16 assets, KVHI comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CVGI outperformed by 38.8 percentage points (+78.7% for CVGI against +39.9% for KVHI). Note the risk asymmetry: CVGI runs 2.0 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.
CVGI vs KVHI: side by side
| CVGI (Commercial Vehicle Group, Inc.) | KVHI (KVH Industries, Inc.) | |
|---|---|---|
| 1-year return | +78.7% | +39.9% |
| 5-year return | -70.3% | -25.9% |
| Volatility (ann.) | 81.5% | 41.7% |
| Beta vs S&P 500 | 0.77 | 0.20 |
| Max drawdown (3Y) | -91.0% | -35.9% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVGI | KVHI |
|---|---|---|
| 2022 | -15.5% | +11.2% |
| 2023 | +2.9% | -48.5% |
| 2024 | -64.6% | +8.4% |
| 2025 | -41.9% | +22.3% |
| 2026 | +120.8% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVGI and KVHI good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVGI and KVHI?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.44 over the last year and 0.28 over 5 years.
Is KVHI a good diversifier for CVGI?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/cvgi-vs-kvhi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvgi-vs-kvhi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVGI correlations · KVHI correlations
