MVST vs ZTEK: Correlation
Microvast Holdings, Inc. (MVST) and Zentek Ltd. (ZTEK) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and ZTEK?
Across a 3-year window, the weekly returns of MVST and ZTEK correlate at 0.34, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.34). Stretching to 5 years gives 0.30, with an annualized covariance of 5743.4 %².
By 3-year correlation, ZTEK places #11 of the 41 assets tracked against MVST. Their recent paths diverged sharply: over the last 12 months ZTEK outperformed by 53.6 percentage points (-71.2% for MVST against -17.6% for ZTEK). One caveat on sizing: MVST is 2.6 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 ZTEK: side by side
| MVST (Microvast Holdings, Inc.) | ZTEK (Zentek Ltd.) | |
|---|---|---|
| 1-year return | -71.2% | -17.6% |
| 5-year return | -91.6% | -78.0% |
| Volatility (ann.) | 209.2% | 80.4% |
| Beta vs S&P 500 | 0.26 | 0.63 |
| Max drawdown (3Y) | -92.8% | -79.2% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVST | ZTEK |
|---|---|---|
| 2022 | -73.0% | -60.1% |
| 2023 | -8.5% | -30.3% |
| 2024 | +47.9% | -13.0% |
| 2025 | +35.3% | -31.9% |
| 2026 | -72.5% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and ZTEK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MVST and ZTEK?
As of 2026-08-27, the correlation of weekly returns between MVST and ZTEK is 0.34 over 3 years, 0.21 over 1 year and 0.30 over 5 years.
Is ZTEK a good diversifier for MVST?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mvst-vs-ztek.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mvst-vs-ztek/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MVST correlations · ZTEK correlations
