DUO vs GWAV: Correlation
Fangdd Network Group Ltd. - Class A (DUO) and Greenwave Technology Solutions, Inc. (GWAV) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUO and GWAV?
On 3 years of weekly data the DUO/GWAV correlation comes out at 0.60, strong. The past 12 months show a weaker link (0.17) than the 3-year average (0.60). The 5-year figure is 0.49, and annualized covariance runs at 34825.3 %².
Few assets follow DUO as closely as GWAV, which ranks #2 of 15 tracked partners. On 12-month performance GWAV holds a 9.9-point edge, -53.8% against -43.9%.
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.
DUO vs GWAV: side by side
| DUO (Fangdd Network Group Ltd. - Class A) | GWAV (Greenwave Technology Solutions, Inc.) | |
|---|---|---|
| 1-year return | -53.8% | -43.9% |
| 5-year return | -100.0% | -100.0% |
| Volatility (ann.) | 278.7% | 209.4% |
| Beta vs S&P 500 | 1.68 | 2.43 |
| Max drawdown (3Y) | -99.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DUO | GWAV |
|---|---|---|
| 2022 | -89.0% | -93.8% |
| 2023 | -94.2% | -35.9% |
| 2024 | -11.1% | -99.2% |
| 2025 | -84.7% | -93.2% |
| 2026 | -52.2% | -17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUO and GWAV good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DUO and GWAV?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.17 over the last year and 0.49 over 5 years.
Is GWAV a good diversifier for DUO?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/duo-vs-gwav.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/duo-vs-gwav/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DUO correlations · GWAV correlations
