CATO vs FBRX: Correlation
Cato Corporation (The) (CATO) and Forte Biosciences, Inc. (FBRX) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATO and FBRX?
Over the past 3 years, CATO and FBRX moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.20 over 3 years. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -1785.7 %².
Out of 12 assets tracked against CATO, FBRX lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months FBRX outperformed by 615.5 percentage points (-31.8% for CATO against +583.7% for FBRX). One caveat on sizing: FBRX is 2.8 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.
CATO vs FBRX: side by side
| CATO (Cato Corporation (The)) | FBRX (Forte Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -31.8% | +583.7% |
| 5-year return | -80.5% | -89.5% |
| Volatility (ann.) | 56.2% | 157.4% |
| Beta vs S&P 500 | 0.62 | 1.45 |
| Max drawdown (3Y) | -69.4% | -81.2% |
| Market cap | $0.1B | $1.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATO | FBRX |
|---|---|---|
| 2022 | -42.2% | -53.3% |
| 2023 | -16.5% | -17.8% |
| 2024 | -39.8% | +10.5% |
| 2025 | -20.8% | +20.1% |
| 2026 | -13.9% | +182.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATO and FBRX good diversifiers for each other?
Yes. With a correlation of -0.20, CATO and FBRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CATO and FBRX?
As of 2026-08-27, the correlation of weekly returns between CATO and FBRX is -0.20 over 3 years, 0.04 over 1 year and -0.14 over 5 years.
Is FBRX a good diversifier for CATO?
Yes. With a correlation of -0.20, CATO and FBRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/cato-vs-fbrx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cato-vs-fbrx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CATO correlations · FBRX correlations
