CHH vs EDSA: Correlation
Measured on weekly returns over the past three years, Choice Hotels International, Inc. (CHH) and Edesa Biotech, Inc. (EDSA) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHH and EDSA?
On 3 years of weekly data the CHH/EDSA correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.25). The 5-year figure is -0.16, and annualized covariance runs at -1297.2 %².
Out of 10 assets tracked against CHH, EDSA lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 100.7 percentage points (-9.0% for CHH against +91.7% for EDSA). Note the risk asymmetry: EDSA runs 7.1 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.
CHH vs EDSA: side by side
| CHH (Choice Hotels International, Inc.) | EDSA (Edesa Biotech, Inc.) | |
|---|---|---|
| 1-year return | -9.0% | +91.7% |
| 5-year return | -5.3% | -87.4% |
| Volatility (ann.) | 26.8% | 190.4% |
| Beta vs S&P 500 | 0.59 | -0.03 |
| Max drawdown (3Y) | -45.5% | -87.3% |
| Market cap | $4.9B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHH | EDSA |
|---|---|---|
| 2022 | -27.1% | -61.6% |
| 2023 | +1.6% | -69.8% |
| 2024 | +26.2% | -63.2% |
| 2025 | -32.3% | -15.5% |
| 2026 | +14.9% | +223.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHH and EDSA good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHH and EDSA?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.38 over the last year and -0.16 over 5 years.
Is EDSA a good diversifier for CHH?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chh-vs-edsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chh-vs-edsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHH correlations · EDSA correlations
