CATY vs HOPE: Correlation
Cathay General Bancorp (CATY) and Hope Bancorp, Inc. (HOPE) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and HOPE?
On 3 years of weekly data the CATY/HOPE correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. The 5-year figure is 0.88, and annualized covariance runs at 705.7 %².
Few assets follow CATY as closely as HOPE, which ranks #3 of 28 tracked partners. Their 12-month results are close: +26.7% for CATY against +30.9% for HOPE.
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.
CATY vs HOPE: side by side
| CATY (Cathay General Bancorp) | HOPE (Hope Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +30.9% |
| 5-year return | +83.2% | +29.9% |
| Volatility (ann.) | 26.8% | 29.7% |
| Beta vs S&P 500 | 0.82 | 0.91 |
| Max drawdown (3Y) | -29.7% | -35.1% |
| Market cap | $4.1B | $1.8B |
| P/E (trailing) | 12.1 | 13.8 |
| Dividend yield | 2.39% | 4.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | HOPE |
|---|---|---|
| 2022 | -2.1% | -9.6% |
| 2023 | +13.5% | -0.1% |
| 2024 | +10.3% | +6.8% |
| 2025 | +4.6% | -5.9% |
| 2026 | +30.2% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and HOPE good diversifiers for each other?
No: a correlation of 0.89 means CATY and HOPE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CATY and HOPE?
The CATY/HOPE correlation stands at 0.89 on a 3-year window (1 year: 0.86, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is HOPE a good diversifier for CATY?
No: a correlation of 0.89 means CATY and HOPE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 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/caty-vs-hope.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/caty-vs-hope/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CATY correlations · HOPE correlations
