MVST vs SPH: Correlation
How closely do Microvast Holdings, Inc. (MVST) and Suburban Propane Partners, L.P. (SPH) 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 SPH?
On 3 years of weekly data the MVST/SPH correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -1107.0 %².
Within MVST's tracked universe of 41 assets, SPH comes in at #24 by 3-year correlation. The last year tells two different stories: SPH led by 71.9 percentage points, -71.2% for MVST against +0.7% for SPH. Note the risk asymmetry: MVST runs 8.2 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 SPH: side by side
| MVST (Microvast Holdings, Inc.) | SPH (Suburban Propane Partners, L.P.) | |
|---|---|---|
| 1-year return | -71.2% | +0.7% |
| 5-year return | -91.6% | +66.9% |
| Volatility (ann.) | 209.2% | 25.4% |
| Beta vs S&P 500 | 0.26 | 0.23 |
| Max drawdown (3Y) | -92.8% | -20.0% |
| Market cap | $0.3B | $1.2B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 7.34% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | SPH |
|---|---|---|
| 2022 | -73.0% | +12.3% |
| 2023 | -8.5% | +27.0% |
| 2024 | +47.9% | +3.8% |
| 2025 | +35.3% | +15.2% |
| 2026 | -72.5% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and SPH 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 SPH?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.17 over the last year and -0.12 over 5 years.
Is SPH 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
$ curl https://www.pairbook.io/api/v1/pairs/mvst-vs-sph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mvst-vs-sph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MVST correlations · SPH correlations
