EH vs TDF: Correlation
EHang Holdings Limited (EH) and Templeton Dragon Fund, Inc. (TDF) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EH and TDF?
Across a 3-year window, the weekly returns of EH and TDF correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 898.5 %².
Few assets follow EH as closely as TDF, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months TDF outperformed by 74.1 percentage points (-70.7% for EH against +3.4% for TDF). Risk is not evenly split, since EH carries 3.3 times the volatility of the other side.
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.
EH vs TDF: side by side
| EH (EHang Holdings Limited) | TDF (Templeton Dragon Fund, Inc.) | |
|---|---|---|
| 1-year return | -70.7% | +3.4% |
| 5-year return | -81.9% | -29.3% |
| Volatility (ann.) | 72.3% | 22.2% |
| Beta vs S&P 500 | 1.92 | 0.64 |
| Max drawdown (3Y) | -82.4% | -22.2% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | – | 3.6 |
| Dividend yield | 0.00% | 3.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EH | TDF |
|---|---|---|
| 2022 | -42.5% | -32.9% |
| 2023 | +95.8% | -20.1% |
| 2024 | -6.3% | +5.5% |
| 2025 | -16.3% | +37.7% |
| 2026 | -64.6% | -1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EH and TDF good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EH and TDF?
The EH/TDF correlation stands at 0.56 on a 3-year window (1 year: 0.53, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is TDF a good diversifier for EH?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/eh-vs-tdf.json
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[](https://www.pairbook.io/pair/eh-vs-tdf/)
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Related comparisons
Hubs: EH correlations · TDF correlations
