CATY vs NEWT: Correlation
Cathay General Bancorp (CATY) and NewtekOne, Inc. (NEWT) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and NEWT?
Across a 3-year window, the weekly returns of CATY and NEWT correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 689.0 %².
Among the 28 assets we track against CATY, NEWT ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CATY ahead by 20.8 points (+26.7% versus +5.9%).
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 NEWT: side by side
| CATY (Cathay General Bancorp) | NEWT (NewtekOne, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +5.9% |
| 5-year return | +83.2% | -35.1% |
| Volatility (ann.) | 26.8% | 38.9% |
| Beta vs S&P 500 | 0.82 | 1.15 |
| Max drawdown (3Y) | -29.7% | -43.8% |
| Market cap | $4.1B | $0.4B |
| P/E (trailing) | 12.1 | 5.6 |
| Dividend yield | 2.39% | 6.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | NEWT |
|---|---|---|
| 2022 | -2.1% | -33.2% |
| 2023 | +13.5% | -10.7% |
| 2024 | +10.3% | -1.6% |
| 2025 | +4.6% | -4.9% |
| 2026 | +30.2% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and NEWT good diversifiers for each other?
Only partially. A correlation of 0.66 means CATY and NEWT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CATY and NEWT?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.62 over the last year and 0.58 over 5 years.
Is NEWT a good diversifier for CATY?
Only partially. A correlation of 0.66 means CATY and NEWT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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
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Related comparisons
Hubs: CATY correlations · NEWT correlations
