CWT vs RDZN: Correlation
Measured on weekly returns over the past three years, California Water Service Group (CWT) and Roadzen, Inc. (RDZN) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWT and RDZN?
On 3 years of weekly data the CWT/RDZN correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.30). The 5-year figure is -0.23, and annualized covariance runs at -823.0 %².
Out of 15 assets tracked against CWT, RDZN lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months RDZN outperformed by 41.2 percentage points (+9.3% for CWT against +50.5% for RDZN). Note the risk asymmetry: RDZN runs 5.5 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.
CWT vs RDZN: side by side
| CWT (California Water Service Group) | RDZN (Roadzen, Inc.) | |
|---|---|---|
| 1-year return | +9.3% | +50.5% |
| 5-year return | -12.2% | -84.9% |
| Volatility (ann.) | 22.3% | 122.6% |
| Beta vs S&P 500 | 0.10 | 1.57 |
| Max drawdown (3Y) | -24.1% | -94.0% |
| Market cap | $3.1B | $0.1B |
| P/E (trailing) | 22.6 | 6.8 |
| Dividend yield | 2.53% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWT | RDZN |
|---|---|---|
| 2022 | -14.1% | – |
| 2023 | -12.8% | -50.3% |
| 2024 | -10.6% | -57.2% |
| 2025 | -1.8% | +10.6% |
| 2026 | +18.2% | -38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWT and RDZN good diversifiers for each other?
Yes. With a correlation of -0.30, CWT and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CWT and RDZN?
As of 2026-08-27, the correlation of weekly returns between CWT and RDZN is -0.30 over 3 years, -0.50 over 1 year and -0.23 over 5 years.
Is RDZN a good diversifier for CWT?
Yes. With a correlation of -0.30, CWT and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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/cwt-vs-rdzn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cwt-vs-rdzn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CWT correlations · RDZN correlations
