DPU vs SY: Correlation
Measured on weekly returns over the past three years, Top KingWin Ltd - Class A (DPU) and So-Young International Inc. - American Depository Shares (SY) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPU and SY?
Across a 3-year window, the weekly returns of DPU and SY correlate at 0.32, moderate. The link has loosened recently: the 1-year correlation (-0.04) runs below the 3-year figure (0.32). Stretching to 5 years gives n/a, with an annualized covariance of 4330.8 %².
By 3-year correlation, SY places #5 of the 12 assets tracked against DPU. Neither side won the trailing year by much: -36.6% against -41.0%.
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.
DPU vs SY: side by side
| DPU (Top KingWin Ltd - Class A) | SY (So-Young International Inc. - American Depository Shares) | |
|---|---|---|
| 1-year return | -36.6% | -41.0% |
| 5-year return | n/a | -54.5% |
| Volatility (ann.) | 134.1% | 99.6% |
| Beta vs S&P 500 | 1.75 | 1.08 |
| Max drawdown (3Y) | -99.9% | -77.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DPU | SY |
|---|---|---|
| 2022 | – | -59.6% |
| 2023 | – | +0.0% |
| 2024 | -80.6% | -32.1% |
| 2025 | -99.0% | +219.0% |
| 2026 | +4.2% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPU and SY good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DPU and SY?
The DPU/SY correlation stands at 0.32 on a 3-year window (1 year: -0.04, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SY a good diversifier for DPU?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/dpu-vs-sy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dpu-vs-sy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DPU correlations · SY correlations
