MVST vs PLAG: Correlation
Measured on weekly returns over the past three years, Microvast Holdings, Inc. (MVST) and Planet Green Holdings Corp. (PLAG) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and PLAG?
Over the past 3 years, MVST and PLAG moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.05) than the 3-year average (0.52). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 17408.3 %².
By 3-year correlation, PLAG places #6 of the 41 assets tracked against MVST. Over the last 12 months PLAG came out ahead by 12.1 percentage points (-71.2% against -59.1%).
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.
MVST vs PLAG: side by side
| MVST (Microvast Holdings, Inc.) | PLAG (Planet Green Holdings Corp.) | |
|---|---|---|
| 1-year return | -71.2% | -59.1% |
| 5-year return | -91.6% | -94.2% |
| Volatility (ann.) | 209.2% | 160.4% |
| Beta vs S&P 500 | 0.26 | -0.67 |
| Max drawdown (3Y) | -92.8% | -93.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | PLAG |
|---|---|---|
| 2022 | -73.0% | -39.2% |
| 2023 | -8.5% | -21.0% |
| 2024 | +47.9% | -46.9% |
| 2025 | +35.3% | -15.8% |
| 2026 | -72.5% | -67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and PLAG good diversifiers for each other?
Only partially. A correlation of 0.52 means MVST and PLAG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MVST and PLAG?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.05 over the last year and 0.46 over 5 years.
Is PLAG a good diversifier for MVST?
Only partially. A correlation of 0.52 means MVST and PLAG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/mvst-vs-plag.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mvst-vs-plag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MVST correlations · PLAG correlations
