CAT vs HAO: Correlation
Measured on weekly returns over the past three years, Caterpillar Inc. (CAT) and Haoxi Health Technology Limited - Class A Ord Share (HAO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAT and HAO?
Across a 3-year window, the weekly returns of CAT and HAO correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -13231.8 %².
Within CAT's tracked universe of 36 assets, HAO comes in at #31 by 3-year correlation. The last year tells two different stories: CAT led by 188.4 percentage points, +90.5% for CAT against -97.9% for HAO. Note the risk asymmetry: HAO runs 77.3 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.
CAT vs HAO: side by side
| CAT (Caterpillar Inc.) | HAO (Haoxi Health Technology Limited - Class A Ord Share) | |
|---|---|---|
| 1-year return | +90.5% | -97.9% |
| 5-year return | +321.1% | n/a |
| Volatility (ann.) | 29.4% | 2273.9% |
| Beta vs S&P 500 | 1.03 | -2.44 |
| Max drawdown (3Y) | -34.0% | -100.0% |
| Market cap | $375.6B | – |
| P/E (trailing) | 35.3 | – |
| Dividend yield | 0.75% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CAT | HAO |
|---|---|---|
| 2022 | +18.6% | – |
| 2023 | +25.9% | – |
| 2024 | +24.7% | – |
| 2025 | +60.3% | +613.3% |
| 2026 | +43.5% | -97.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAT and HAO good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAT and HAO?
As of 2026-08-27, the correlation of weekly returns between CAT and HAO is -0.19 over 3 years, -0.16 over 1 year and n/a over 5 years.
Is HAO a good diversifier for CAT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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/cat-vs-hao.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cat-vs-hao/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAT correlations · HAO correlations
