PSX vs UCAR: Correlation
Measured on weekly returns over the past three years, Phillips 66 (PSX) and U Power Limited - Class A (UCAR) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSX and UCAR?
On 3 years of weekly data the PSX/UCAR correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.17 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -1074.5 %².
By 3-year correlation, UCAR places #25 of the 34 assets tracked against PSX. Correlation aside, the last 12 months split them widely, with PSX ahead by 183.1 points (+86.2% versus -96.9%). Note the risk asymmetry: UCAR runs 5.6 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.
PSX vs UCAR: side by side
| PSX (Phillips 66) | UCAR (U Power Limited - Class A) | |
|---|---|---|
| 1-year return | +86.2% | -96.9% |
| 5-year return | +301.8% | n/a |
| Volatility (ann.) | 33.4% | 186.9% |
| Beta vs S&P 500 | 0.58 | 2.54 |
| Max drawdown (3Y) | -44.4% | -100.0% |
| Market cap | $96.1B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 2.04% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | PSX | UCAR |
|---|---|---|
| 2022 | +49.6% | – |
| 2023 | +33.1% | – |
| 2024 | -11.6% | -64.0% |
| 2025 | +17.5% | -77.1% |
| 2026 | +89.7% | -95.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSX and UCAR good diversifiers for each other?
Yes. With a correlation of -0.17, PSX and UCAR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PSX and UCAR?
The PSX/UCAR correlation stands at -0.17 on a 3-year window (1 year: -0.36, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UCAR a good diversifier for PSX?
Yes. With a correlation of -0.17, PSX and UCAR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
A reading of -0.17 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/psx-vs-ucar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/psx-vs-ucar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PSX correlations · UCAR correlations
