CATY vs MDXG: Correlation
Cathay General Bancorp (CATY) and MiMedx Group, Inc (MDXG) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and MDXG?
Across a 3-year window, the weekly returns of CATY and MDXG correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.29, with an annualized covariance of 519.1 %².
Among the 28 assets we track against CATY, MDXG ranks #21 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CATY outperformed by 63.8 percentage points (+26.7% for CATY against -37.1% for MDXG). Note the risk asymmetry: MDXG runs 1.6 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.
CATY vs MDXG: side by side
| CATY (Cathay General Bancorp) | MDXG (MiMedx Group, Inc) | |
|---|---|---|
| 1-year return | +26.7% | -37.1% |
| 5-year return | +83.2% | -69.1% |
| Volatility (ann.) | 26.8% | 43.2% |
| Beta vs S&P 500 | 0.82 | 0.71 |
| Max drawdown (3Y) | -29.7% | -68.3% |
| Market cap | $4.1B | $0.7B |
| P/E (trailing) | 12.1 | 112.8 |
| Dividend yield | 2.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | MDXG |
|---|---|---|
| 2022 | -2.1% | -54.0% |
| 2023 | +13.5% | +215.5% |
| 2024 | +10.3% | +9.7% |
| 2025 | +4.6% | -29.6% |
| 2026 | +30.2% | -33.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and MDXG good diversifiers for each other?
Reasonably. At 0.45, CATY and MDXG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CATY and MDXG?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.10 over the last year and 0.29 over 5 years.
Is MDXG a good diversifier for CATY?
Reasonably. At 0.45, CATY and MDXG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CATY correlations · MDXG correlations
