MVST vs SGA: Correlation
How closely do Microvast Holdings, Inc. (MVST) and Saga Communications, Inc. (SGA) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and SGA?
On 3 years of weekly data the MVST/SGA correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.10) than the 3-year average (-0.24). The 5-year figure is -0.17, and annualized covariance runs at -1554.5 %².
By 3-year correlation, SGA places #28 of the 41 assets tracked against MVST. Correlation aside, the last 12 months split them widely, with SGA ahead by 47.9 points (-71.2% versus -23.3%). Note the risk asymmetry: MVST runs 6.8 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 SGA: side by side
| MVST (Microvast Holdings, Inc.) | SGA (Saga Communications, Inc.) | |
|---|---|---|
| 1-year return | -71.2% | -23.3% |
| 5-year return | -91.6% | -34.9% |
| Volatility (ann.) | 209.2% | 30.7% |
| Beta vs S&P 500 | 0.26 | 0.43 |
| Max drawdown (3Y) | -92.8% | -58.1% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 10.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | SGA |
|---|---|---|
| 2022 | -73.0% | +16.8% |
| 2023 | -8.5% | +6.8% |
| 2024 | +47.9% | -45.9% |
| 2025 | +35.3% | +12.4% |
| 2026 | -72.5% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and SGA good diversifiers for each other?
Yes. With a correlation of -0.24, MVST and SGA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MVST and SGA?
The MVST/SGA correlation stands at -0.24 on a 3-year window (1 year: 0.10, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is SGA a good diversifier for MVST?
Yes. With a correlation of -0.24, MVST and SGA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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.
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Related comparisons
Hubs: MVST correlations · SGA correlations
