BTMD vs EHGO: Correlation
Measured on weekly returns over the past three years, Biote Corp. (BTMD) and Eshallgo Inc. - Class A (EHGO) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTMD and EHGO?
Across a 3-year window, the weekly returns of BTMD and EHGO correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.23). Stretching to 5 years gives n/a, with an annualized covariance of -2018.8 %².
EHGO is close to the least connected end of BTMD's tracked universe, ranking #11 of 11. The last year tells two different stories: BTMD led by 38.6 percentage points, -51.5% for BTMD against -90.1% for EHGO. Note the risk asymmetry: EHGO runs 1.9 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.
BTMD vs EHGO: side by side
| BTMD (Biote Corp.) | EHGO (Eshallgo Inc. - Class A) | |
|---|---|---|
| 1-year return | -51.5% | -90.1% |
| 5-year return | -83.1% | n/a |
| Volatility (ann.) | 67.5% | 127.9% |
| Beta vs S&P 500 | 1.16 | -1.42 |
| Max drawdown (3Y) | -84.4% | -98.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTMD | EHGO |
|---|---|---|
| 2022 | -61.9% | – |
| 2023 | +32.4% | – |
| 2024 | +25.1% | – |
| 2025 | -57.9% | -94.4% |
| 2026 | -37.3% | -65.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTMD and EHGO good diversifiers for each other?
Yes. With a correlation of -0.23, BTMD and EHGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTMD and EHGO?
The BTMD/EHGO correlation stands at -0.23 on a 3-year window (1 year: -0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is EHGO a good diversifier for BTMD?
Yes. With a correlation of -0.23, BTMD and EHGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btmd-vs-ehgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btmd-vs-ehgo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTMD correlations · EHGO correlations
