IAUX vs MVST: Correlation
How closely do i-80 Gold Corp. (IAUX) and Microvast Holdings, Inc. (MVST) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAUX and MVST?
Over the past 3 years, IAUX and MVST moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.38) than the 3-year average (-0.34). Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -6420.4 %².
MVST is close to the least connected end of IAUX's tracked universe, ranking #13 of 15. The last year tells two different stories: IAUX led by 223.5 percentage points, +152.3% for IAUX against -71.2% for MVST. Risk is not evenly split, since MVST carries 2.3 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.
IAUX vs MVST: side by side
| IAUX (i-80 Gold Corp.) | MVST (Microvast Holdings, Inc.) | |
|---|---|---|
| 1-year return | +152.3% | -71.2% |
| 5-year return | -7.4% | -91.6% |
| Volatility (ann.) | 91.2% | 209.2% |
| Beta vs S&P 500 | 1.99 | 0.26 |
| Max drawdown (3Y) | -82.6% | -92.8% |
| Market cap | $1.7B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IAUX | MVST |
|---|---|---|
| 2022 | +15.0% | -73.0% |
| 2023 | -37.6% | -8.5% |
| 2024 | -72.4% | +47.9% |
| 2025 | +201.0% | +35.3% |
| 2026 | +31.5% | -72.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAUX and MVST good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between IAUX and MVST?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with 0.38 over the last year and -0.23 over 5 years.
Is MVST a good diversifier for IAUX?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 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/iaux-vs-mvst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iaux-vs-mvst/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IAUX correlations · MVST correlations
