MVST vs VVX: Correlation
Microvast Holdings, Inc. (MVST) and V2X, Inc. (VVX) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and VVX?
On 3 years of weekly data the MVST/VVX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.11 versus -0.21 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -1893.4 %².
By 3-year correlation, VVX places #25 of the 41 assets tracked against MVST. Correlation aside, the last 12 months split them widely, with VVX ahead by 105.5 points (-71.2% versus +34.3%). One caveat on sizing: MVST is 4.8 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 VVX: side by side
| MVST (Microvast Holdings, Inc.) | VVX (V2X, Inc.) | |
|---|---|---|
| 1-year return | -71.2% | +34.3% |
| 5-year return | -91.6% | +58.1% |
| Volatility (ann.) | 209.2% | 43.9% |
| Beta vs S&P 500 | 0.26 | 0.98 |
| Max drawdown (3Y) | -92.8% | -38.9% |
| Market cap | $0.3B | $2.5B |
| P/E (trailing) | – | 26.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | VVX |
|---|---|---|
| 2022 | -73.0% | -9.8% |
| 2023 | -8.5% | +12.5% |
| 2024 | +47.9% | +3.0% |
| 2025 | +35.3% | +14.0% |
| 2026 | -72.5% | +43.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and VVX 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 VVX?
As of 2026-08-27, the correlation of weekly returns between MVST and VVX is -0.21 over 3 years, 0.11 over 1 year and -0.15 over 5 years.
Is VVX 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?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MVST correlations · VVX correlations
