DUO vs WETH: Correlation
Fangdd Network Group Ltd. - Class A (DUO) and Wetouch Technology Inc. (WETH) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUO and WETH?
On 3 years of weekly data the DUO/WETH correlation comes out at 0.37, moderate. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.37). The 5-year figure is n/a, and annualized covariance runs at 12575.7 %².
By 3-year correlation, WETH places #6 of the 15 assets tracked against DUO. The last year tells two different stories: WETH led by 71.1 percentage points, -53.8% for DUO against +17.3% for WETH. One caveat on sizing: DUO is 2.5 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.
DUO vs WETH: side by side
| DUO (Fangdd Network Group Ltd. - Class A) | WETH (Wetouch Technology Inc.) | |
|---|---|---|
| 1-year return | -53.8% | +17.3% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 278.7% | 112.1% |
| Beta vs S&P 500 | 1.68 | 1.71 |
| Max drawdown (3Y) | -99.2% | -83.8% |
| Market cap | – | – |
| P/E (trailing) | – | 1.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DUO | WETH |
|---|---|---|
| 2022 | -89.0% | – |
| 2023 | -94.2% | – |
| 2024 | -11.1% | – |
| 2025 | -84.7% | -24.3% |
| 2026 | -52.2% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUO and WETH good diversifiers for each other?
Reasonably. At 0.37, DUO and WETH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DUO and WETH?
The DUO/WETH correlation stands at 0.37 on a 3-year window (1 year: 0.08, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WETH a good diversifier for DUO?
Reasonably. At 0.37, DUO and WETH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/duo-vs-weth.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/duo-vs-weth/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DUO correlations · WETH correlations
