GWAV vs VFS: Correlation
How closely do Greenwave Technology Solutions, Inc. (GWAV) and VinFast Auto Ltd. (VFS) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWAV and VFS?
On 3 years of weekly data the GWAV/VFS correlation comes out at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.48 over 3 years. The 5-year figure is 0.13, and annualized covariance runs at 7530.9 %².
By 3-year correlation, VFS places #5 of the 12 assets tracked against GWAV. Correlation aside, the last 12 months split them widely, with VFS ahead by 34.4 points (-43.9% versus -9.5%). Note the risk asymmetry: GWAV runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GWAV vs VFS: side by side
| GWAV (Greenwave Technology Solutions, Inc.) | VFS (VinFast Auto Ltd.) | |
|---|---|---|
| 1-year return | -43.9% | -9.5% |
| 5-year return | -100.0% | -67.8% |
| Volatility (ann.) | 209.4% | 75.2% |
| Beta vs S&P 500 | 2.43 | 1.62 |
| Max drawdown (3Y) | -100.0% | -97.1% |
| Market cap | – | $7.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWAV | VFS |
|---|---|---|
| 2022 | -93.8% | +3.2% |
| 2023 | -35.9% | -16.3% |
| 2024 | -99.2% | -51.9% |
| 2025 | -93.2% | -17.1% |
| 2026 | -17.0% | -5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWAV and VFS good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GWAV and VFS?
As of 2026-08-27, the correlation of weekly returns between GWAV and VFS is 0.48 over 3 years, 0.17 over 1 year and 0.13 over 5 years.
Is VFS a good diversifier for GWAV?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: GWAV correlations · VFS correlations
