CATY vs LOB: Correlation
Measured on weekly returns over the past three years, Cathay General Bancorp (CATY) and Live Oak Bancshares, Inc. (LOB) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and LOB?
On 3 years of weekly data the CATY/LOB correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 928.4 %².
Among the 28 assets we track against CATY, LOB ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CATY outperformed by 22.9 percentage points (+26.7% for CATY against +3.8% for LOB). Risk is not evenly split, since LOB carries 1.6 times the volatility of the other side.
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 LOB: side by side
| CATY (Cathay General Bancorp) | LOB (Live Oak Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +3.8% |
| 5-year return | +83.2% | -33.6% |
| Volatility (ann.) | 26.8% | 42.3% |
| Beta vs S&P 500 | 0.82 | 1.11 |
| Max drawdown (3Y) | -29.7% | -53.8% |
| Market cap | $4.1B | $1.9B |
| P/E (trailing) | 12.1 | 14.0 |
| Dividend yield | 2.39% | 0.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | LOB |
|---|---|---|
| 2022 | -2.1% | -65.3% |
| 2023 | +13.5% | +51.3% |
| 2024 | +10.3% | -12.8% |
| 2025 | +4.6% | -12.8% |
| 2026 | +30.2% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and LOB good diversifiers for each other?
No: a correlation of 0.82 means CATY and LOB tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CATY and LOB?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.76 over the last year and 0.76 over 5 years.
Is LOB a good diversifier for CATY?
No: a correlation of 0.82 means CATY and LOB tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 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-lob.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caty-vs-lob/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CATY correlations · LOB correlations
