CWCO vs THFF: Correlation
How closely do Consolidated Water Co. Ltd. (CWCO) and First Financial Corporation (THFF) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWCO and THFF?
Over the past 3 years, CWCO and THFF moved with a correlation of 0.47, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.47 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 407.2 %².
Within CWCO's tracked universe of 12 assets, THFF comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with THFF ahead by 47.1 points (-8.3% versus +38.8%).
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.
CWCO vs THFF: side by side
| CWCO (Consolidated Water Co. Ltd.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | -8.3% | +38.8% |
| 5-year return | +171.8% | +135.2% |
| Volatility (ann.) | 30.8% | 28.2% |
| Beta vs S&P 500 | 0.65 | 0.81 |
| Max drawdown (3Y) | -38.2% | -20.2% |
| Market cap | $0.5B | $0.9B |
| P/E (trailing) | 29.5 | 11.1 |
| Dividend yield | 1.86% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWCO | THFF |
|---|---|---|
| 2022 | +42.6% | +4.4% |
| 2023 | +144.2% | -2.6% |
| 2024 | -26.5% | +11.1% |
| 2025 | +38.7% | +36.2% |
| 2026 | -13.6% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWCO and THFF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CWCO and THFF?
The CWCO/THFF correlation stands at 0.47 on a 3-year window (1 year: 0.35, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is THFF a good diversifier for CWCO?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: CWCO correlations · THFF correlations
