BTMD vs HCAT: Correlation
Measured on weekly returns over the past three years, Biote Corp. (BTMD) and Health Catalyst, Inc (HCAT) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTMD and HCAT?
Across a 3-year window, the weekly returns of BTMD and HCAT correlate at 0.40, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.40). Stretching to 5 years gives 0.21, with an annualized covariance of 1929.6 %².
In BTMD's tracked universe of 11 assets, HCAT sits right near the top at #1. Over the last 12 months BTMD came out ahead by 5.4 percentage points (-51.5% against -56.9%).
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 HCAT: side by side
| BTMD (Biote Corp.) | HCAT (Health Catalyst, Inc) | |
|---|---|---|
| 1-year return | -51.5% | -56.9% |
| 5-year return | -83.1% | -97.0% |
| Volatility (ann.) | 67.5% | 71.7% |
| Beta vs S&P 500 | 1.16 | 1.49 |
| Max drawdown (3Y) | -84.4% | -91.6% |
| Market cap | $0.1B | $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 | HCAT |
|---|---|---|
| 2022 | -61.9% | -73.2% |
| 2023 | +32.4% | -12.9% |
| 2024 | +25.1% | -23.7% |
| 2025 | -57.9% | -66.2% |
| 2026 | -37.3% | -33.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTMD and HCAT good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTMD and HCAT?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.58 over the last year and 0.21 over 5 years.
Is HCAT a good diversifier for BTMD?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/btmd-vs-hcat.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btmd-vs-hcat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTMD correlations · HCAT correlations
