MSAI vs VGAS: Correlation
How closely do MultiSensor AI Holdings, Inc. (MSAI) and Verde Clean Fuels, Inc. (VGAS) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSAI and VGAS?
On 3 years of weekly data the MSAI/VGAS correlation comes out at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.33 over 3 years. The 5-year figure is 0.25, and annualized covariance runs at 3798.2 %².
Among the 14 assets we track against MSAI, VGAS ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VGAS ahead by 27.0 points (-81.5% versus -54.5%).
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.
MSAI vs VGAS: side by side
| MSAI (MultiSensor AI Holdings, Inc.) | VGAS (Verde Clean Fuels, Inc.) | |
|---|---|---|
| 1-year return | -81.5% | -54.5% |
| 5-year return | -98.6% | -86.2% |
| Volatility (ann.) | 122.9% | 94.3% |
| Beta vs S&P 500 | 1.24 | 0.91 |
| Max drawdown (3Y) | -99.1% | -82.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSAI | VGAS |
|---|---|---|
| 2022 | +4.0% | -8.2% |
| 2023 | -67.2% | -74.1% |
| 2024 | -45.1% | +72.2% |
| 2025 | -84.3% | -49.3% |
| 2026 | -52.9% | -34.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSAI and VGAS good diversifiers for each other?
Reasonably. At 0.33, MSAI and VGAS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MSAI and VGAS?
As of 2026-08-27, the correlation of weekly returns between MSAI and VGAS is 0.33 over 3 years, 0.20 over 1 year and 0.25 over 5 years.
Is VGAS a good diversifier for MSAI?
Reasonably. At 0.33, MSAI and VGAS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/msai-vs-vgas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msai-vs-vgas/)
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Related comparisons
Hubs: MSAI correlations · VGAS correlations
