RAYA vs UCAR: Correlation
How closely do Erayak Power Solution Group Inc. - Class A (RAYA) and U Power Limited - Class A (UCAR) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAYA and UCAR?
Across a 3-year window, the weekly returns of RAYA and UCAR correlate at 0.53, moderate. The past 12 months show a tighter link (0.77) than the 3-year average (0.53). Stretching to 5 years gives n/a, with an annualized covariance of 16198.2 %².
UCAR is one of the assets that tracks RAYA most closely: it ranks #1 out of the 20 assets we track against RAYA. Twelve-month performance is nearly a tie, at -97.8% for RAYA and -96.9% for UCAR.
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.
RAYA vs UCAR: side by side
| RAYA (Erayak Power Solution Group Inc. - Class A) | UCAR (U Power Limited - Class A) | |
|---|---|---|
| 1-year return | -97.8% | -96.9% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 162.4% | 186.9% |
| Beta vs S&P 500 | 0.17 | 2.54 |
| Max drawdown (3Y) | -100.0% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RAYA | UCAR |
|---|---|---|
| 2023 | -44.7% | – |
| 2024 | +23.6% | -64.0% |
| 2025 | -98.7% | -77.1% |
| 2026 | -94.0% | -95.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAYA and UCAR good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RAYA and UCAR?
The RAYA/UCAR correlation stands at 0.53 on a 3-year window (1 year: 0.77, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UCAR a good diversifier for RAYA?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/raya-vs-ucar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/raya-vs-ucar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RAYA correlations · UCAR correlations
