CYD vs ITRN: Correlation
Measured on weekly returns over the past three years, China Yuchai International Limited (CYD) and Ituran Location and Control Ltd. (ITRN) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CYD and ITRN?
Across a 3-year window, the weekly returns of CYD and ITRN correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.32, with an annualized covariance of 660.1 %².
In CYD's tracked universe of 11 assets, ITRN sits right near the top at #3. Correlation aside, the last 12 months split them widely, with ITRN ahead by 26.3 points (+26.0% versus +52.3%). One caveat on sizing: CYD is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CYD vs ITRN: side by side
| CYD (China Yuchai International Limited) | ITRN (Ituran Location and Control Ltd.) | |
|---|---|---|
| 1-year return | +26.0% | +52.3% |
| 5-year return | +236.2% | +146.4% |
| Volatility (ann.) | 64.2% | 29.1% |
| Beta vs S&P 500 | 1.06 | 0.84 |
| Max drawdown (3Y) | -44.5% | -26.8% |
| Market cap | – | $1.0B |
| P/E (trailing) | 13.8 | 16.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CYD | ITRN |
|---|---|---|
| 2022 | -50.3% | -18.8% |
| 2023 | +21.6% | +32.5% |
| 2024 | +17.7% | +21.0% |
| 2025 | +281.2% | +45.6% |
| 2026 | +16.0% | +25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CYD and ITRN good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CYD and ITRN?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.23 over the last year and 0.32 over 5 years.
Is ITRN a good diversifier for CYD?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 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/cyd-vs-itrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cyd-vs-itrn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CYD correlations · ITRN correlations
