MVST vs SCWO: Correlation
How closely do Microvast Holdings, Inc. (MVST) and 374Water Inc. (SCWO) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and SCWO?
Across a 3-year window, the weekly returns of MVST and SCWO correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.11 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.15, with an annualized covariance of -5175.0 %².
By 3-year correlation, SCWO places #23 of the 41 assets tracked against MVST. The last year tells two different stories: SCWO led by 60.5 percentage points, -71.2% for MVST against -10.7% for SCWO. Note the risk asymmetry: MVST runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SCWO: side by side
| MVST (Microvast Holdings, Inc.) | SCWO (374Water Inc.) | |
|---|---|---|
| 1-year return | -71.2% | -10.7% |
| 5-year return | -91.6% | -85.7% |
| Volatility (ann.) | 209.2% | 118.3% |
| Beta vs S&P 500 | 0.26 | 0.98 |
| Max drawdown (3Y) | -92.8% | -90.9% |
| 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 | SCWO |
|---|---|---|
| 2022 | -73.0% | +0.4% |
| 2023 | -8.5% | -50.3% |
| 2024 | +47.9% | -52.1% |
| 2025 | +35.3% | -70.0% |
| 2026 | -72.5% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and SCWO good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MVST and SCWO?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.11 over the last year and -0.15 over 5 years.
Is SCWO a good diversifier for MVST?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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
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Related comparisons
Hubs: MVST correlations · SCWO correlations
