BTMD vs CPHC: Correlation
Biote Corp. (BTMD) and Canterbury Park Holding Corporation (CPHC) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTMD and CPHC?
Over the past 3 years, BTMD and CPHC moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.21 over 3 years. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -393.8 %².
Out of 11 assets tracked against BTMD, CPHC lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months CPHC outperformed by 48.2 percentage points (-51.5% for BTMD against -3.3% for CPHC). One caveat on sizing: BTMD is 2.4 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.
BTMD vs CPHC: side by side
| BTMD (Biote Corp.) | CPHC (Canterbury Park Holding Corporation) | |
|---|---|---|
| 1-year return | -51.5% | -3.3% |
| 5-year return | -83.1% | +6.8% |
| Volatility (ann.) | 67.5% | 28.1% |
| Beta vs S&P 500 | 1.16 | 0.10 |
| Max drawdown (3Y) | -84.4% | -48.8% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 10.9 | 793.5 |
| Dividend yield | 0.00% | 1.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTMD | CPHC |
|---|---|---|
| 2022 | -61.9% | +83.8% |
| 2023 | +32.4% | -33.8% |
| 2024 | +25.1% | +1.7% |
| 2025 | -57.9% | -23.6% |
| 2026 | -37.3% | +4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTMD and CPHC good diversifiers for each other?
Yes. With a correlation of -0.21, BTMD and CPHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTMD and CPHC?
As of 2026-08-27, the correlation of weekly returns between BTMD and CPHC is -0.21 over 3 years, -0.34 over 1 year and -0.08 over 5 years.
Is CPHC a good diversifier for BTMD?
Yes. With a correlation of -0.21, BTMD and CPHC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/btmd-vs-cphc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btmd-vs-cphc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTMD correlations · CPHC correlations
