EDSA vs HLT: Correlation
Edesa Biotech, Inc. (EDSA) and Hilton Worldwide (HLT) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and HLT?
Across a 3-year window, the weekly returns of EDSA and HLT correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.19 over 3 years. Stretching to 5 years gives -0.06, with an annualized covariance of -761.8 %².
By 3-year correlation, HLT places #18 of the 30 assets tracked against EDSA. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 73.6 percentage points (+91.7% for EDSA against +18.1% for HLT). One caveat on sizing: EDSA is 9.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EDSA vs HLT: side by side
| EDSA (Edesa Biotech, Inc.) | HLT (Hilton Worldwide) | |
|---|---|---|
| 1-year return | +91.7% | +18.1% |
| 5-year return | -87.4% | +162.7% |
| Volatility (ann.) | 190.4% | 20.7% |
| Beta vs S&P 500 | -0.03 | 0.85 |
| Max drawdown (3Y) | -87.3% | -26.4% |
| Market cap | – | $73.3B |
| P/E (trailing) | – | 47.8 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | EDSA | HLT |
|---|---|---|
| 2022 | -61.6% | -18.7% |
| 2023 | -69.8% | +44.7% |
| 2024 | -63.2% | +36.1% |
| 2025 | -15.5% | +16.5% |
| 2026 | +223.9% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and HLT good diversifiers for each other?
Yes. With a correlation of -0.19, EDSA and HLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EDSA and HLT?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.35 over the last year and -0.06 over 5 years.
Is HLT a good diversifier for EDSA?
Yes. With a correlation of -0.19, EDSA and HLT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/edsa-vs-hlt.json
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Related comparisons
Hubs: EDSA correlations · HLT correlations
