MSEX vs RETO: Correlation
How closely do Middlesex Water Company (MSEX) and ReTo Eco-Solutions, Inc. - Class A Shares (RETO) 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 MSEX and RETO?
On 3 years of weekly data the MSEX/RETO correlation comes out at 0.48, moderate. The past 12 months show a weaker link (-0.04) than the 3-year average (0.48). The 5-year figure is 0.39, and annualized covariance runs at 6040.2 %².
Within MSEX's tracked universe of 14 assets, RETO comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MSEX ahead by 106.4 points (+10.1% versus -96.3%). Risk is not evenly split, since RETO carries 12.7 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.
MSEX vs RETO: side by side
| MSEX (Middlesex Water Company) | RETO (ReTo Eco-Solutions, Inc. - Class A Shares) | |
|---|---|---|
| 1-year return | +10.1% | -96.3% |
| 5-year return | -41.5% | -100.0% |
| Volatility (ann.) | 31.5% | 399.9% |
| Beta vs S&P 500 | 0.04 | -2.83 |
| Max drawdown (3Y) | -40.2% | -99.5% |
| Market cap | $1.1B | – |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSEX | RETO |
|---|---|---|
| 2022 | -33.8% | -75.9% |
| 2023 | -15.2% | -99.1% |
| 2024 | -18.0% | -74.9% |
| 2025 | -1.7% | -57.1% |
| 2026 | +17.0% | -81.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSEX and RETO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MSEX and RETO?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with -0.04 over the last year and 0.39 over 5 years.
Is RETO a good diversifier for MSEX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/msex-vs-reto.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msex-vs-reto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MSEX correlations · RETO correlations
