STRW vs THCH: Correlation
Measured on weekly returns over the past three years, Strawberry Fields REIT, Inc. (STRW) and TH International Limited (THCH) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STRW and THCH?
On 3 years of weekly data the STRW/THCH correlation comes out at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.31 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 636.4 %².
By 3-year correlation, THCH places #4 of the 14 assets tracked against STRW. Correlation aside, the last 12 months split them widely, with STRW ahead by 71.0 points (+22.4% versus -48.6%). Note the risk asymmetry: THCH runs 2.0 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.
STRW vs THCH: side by side
| STRW (Strawberry Fields REIT, Inc.) | THCH (TH International Limited) | |
|---|---|---|
| 1-year return | +22.4% | -48.6% |
| 5-year return | n/a | -97.4% |
| Volatility (ann.) | 32.1% | 64.2% |
| Beta vs S&P 500 | 0.19 | 0.34 |
| Max drawdown (3Y) | -26.6% | -90.7% |
| Market cap | $0.8B | – |
| P/E (trailing) | 21.1 | – |
| Dividend yield | 2.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STRW | THCH |
|---|---|---|
| 2022 | – | -71.7% |
| 2023 | – | -37.1% |
| 2024 | +43.9% | -59.4% |
| 2025 | +30.5% | -29.9% |
| 2026 | +8.8% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STRW and THCH good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between STRW and THCH?
The STRW/THCH correlation stands at 0.31 on a 3-year window (1 year: 0.11, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is THCH a good diversifier for STRW?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/strw-vs-thch.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/strw-vs-thch/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STRW correlations · THCH correlations
