RAY vs TRSG: Correlation
Raytech Holding Limited (RAY) and Tungray Technologies Inc - Class A (TRSG) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAY and TRSG?
On 3 years of weekly data the RAY/TRSG correlation comes out at 0.31, moderate. The past 12 months show a weaker link (-0.11) than the 3-year average (0.31). The 5-year figure is n/a, and annualized covariance runs at 4169.5 %².
TRSG is one of the assets that tracks RAY most closely: it ranks #3 out of the 32 assets we track against RAY. Correlation aside, the last 12 months split them widely, with TRSG ahead by 76.2 points (-84.0% versus -7.8%). One caveat on sizing: RAY is 1.6 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.
RAY vs TRSG: side by side
| RAY (Raytech Holding Limited) | TRSG (Tungray Technologies Inc - Class A) | |
|---|---|---|
| 1-year return | -84.0% | -7.8% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 146.1% | 92.3% |
| Beta vs S&P 500 | 0.37 | 0.67 |
| Max drawdown (3Y) | -97.7% | -86.3% |
| Market cap | – | – |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Are RAY and TRSG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RAY and TRSG?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with -0.11 over the last year and n/a over 5 years.
Is TRSG a good diversifier for RAY?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 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/ray-vs-trsg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ray-vs-trsg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RAY correlations · TRSG correlations
