MVST vs RAIL: Correlation
Microvast Holdings, Inc. (MVST) and Freightcar America, Inc. (RAIL) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and RAIL?
On 3 years of weekly data the MVST/RAIL correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.00 versus -0.25 over 3 years. The 5-year figure is -0.13, and annualized covariance runs at -3993.3 %².
By 3-year correlation, RAIL places #29 of the 41 assets tracked against MVST. Correlation aside, the last 12 months split them widely, with RAIL ahead by 55.1 points (-71.2% versus -16.1%). One caveat on sizing: MVST is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RAIL: side by side
| MVST (Microvast Holdings, Inc.) | RAIL (Freightcar America, Inc.) | |
|---|---|---|
| 1-year return | -71.2% | -16.1% |
| 5-year return | -91.6% | +36.6% |
| Volatility (ann.) | 209.2% | 75.3% |
| Beta vs S&P 500 | 0.26 | 1.84 |
| Max drawdown (3Y) | -92.8% | -71.7% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | RAIL |
|---|---|---|
| 2022 | -73.0% | -13.3% |
| 2023 | -8.5% | -15.6% |
| 2024 | +47.9% | +231.9% |
| 2025 | +35.3% | +23.5% |
| 2026 | -72.5% | -34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and RAIL good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between MVST and RAIL?
As of 2026-08-27, the correlation of weekly returns between MVST and RAIL is -0.25 over 3 years, 0.00 over 1 year and -0.13 over 5 years.
Is RAIL a good diversifier for MVST?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/mvst-vs-rail.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mvst-vs-rail/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MVST correlations · RAIL correlations
