CVV vs PAPL: Correlation
How closely do CVD Equipment Corporation (CVV) and Pineapple Financial Inc. (PAPL) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVV and PAPL?
Across a 3-year window, the weekly returns of CVV and PAPL correlate at 0.32, moderate. The past 12 months show a tighter link (0.43) than the 3-year average (0.32). Stretching to 5 years gives n/a, with an annualized covariance of 4646.2 %².
Within CVV's tracked universe of 14 assets, PAPL comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CVV outperformed by 224.8 percentage points (+154.1% for CVV against -70.7% for PAPL). Note the risk asymmetry: PAPL runs 2.3 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.
CVV vs PAPL: side by side
| CVV (CVD Equipment Corporation) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +154.1% | -70.7% |
| 5-year return | +58.5% | n/a |
| Volatility (ann.) | 78.8% | 181.2% |
| Beta vs S&P 500 | 0.89 | -0.73 |
| Max drawdown (3Y) | -67.7% | -99.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVV | PAPL |
|---|---|---|
| 2022 | +33.4% | – |
| 2023 | -19.6% | – |
| 2024 | -0.7% | -74.7% |
| 2025 | -29.8% | -84.4% |
| 2026 | +138.5% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVV and PAPL good diversifiers for each other?
Reasonably. At 0.32, CVV and PAPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CVV and PAPL?
The CVV/PAPL correlation stands at 0.32 on a 3-year window (1 year: 0.43, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAPL a good diversifier for CVV?
Reasonably. At 0.32, CVV and PAPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 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/cvv-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvv-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVV correlations · PAPL correlations
