CVGI vs REED: Correlation
Commercial Vehicle Group, Inc. (CVGI) and Reed's, Inc. (REED) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVGI and REED?
Over the past 3 years, CVGI and REED moved with a correlation of 0.28, which is weak. The link has tightened recently: the 1-year correlation (0.44) runs above the 3-year figure (0.28). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 2426.2 %².
Within CVGI's tracked universe of 16 assets, REED comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CVGI ahead by 162.8 points (+78.7% versus -84.1%).
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 REED: side by side
| CVGI (Commercial Vehicle Group, Inc.) | REED (Reed's, Inc.) | |
|---|---|---|
| 1-year return | +78.7% | -84.1% |
| 5-year return | -70.3% | -99.5% |
| Volatility (ann.) | 81.5% | 104.6% |
| Beta vs S&P 500 | 0.77 | -0.39 |
| Max drawdown (3Y) | -91.0% | -96.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVGI | REED |
|---|---|---|
| 2022 | -15.5% | -80.6% |
| 2023 | +2.9% | -54.3% |
| 2024 | -64.6% | -60.6% |
| 2025 | -41.9% | -44.4% |
| 2026 | +120.8% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVGI and REED good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVGI and REED?
The CVGI/REED correlation stands at 0.28 on a 3-year window (1 year: 0.44, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is REED a good diversifier for CVGI?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvgi-vs-reed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvgi-vs-reed/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVGI correlations · REED correlations
