HBT vs PLSE: Correlation
How closely do HBT Financial, Inc. (HBT) and Pulse Biosciences, Inc (PLSE) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBT and PLSE?
On 3 years of weekly data the HBT/PLSE correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.41 over 3. The 5-year figure is 0.24, and annualized covariance runs at 945.7 %².
PLSE is close to the least connected end of HBT's tracked universe, ranking #13 of 17. Correlation aside, the last 12 months split them widely, with PLSE ahead by 168.1 points (+38.3% versus +206.4%). One caveat on sizing: PLSE is 3.2 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.
HBT vs PLSE: side by side
| HBT (HBT Financial, Inc.) | PLSE (Pulse Biosciences, Inc) | |
|---|---|---|
| 1-year return | +38.3% | +206.4% |
| 5-year return | +160.4% | +82.4% |
| Volatility (ann.) | 26.7% | 86.6% |
| Beta vs S&P 500 | 0.80 | 1.55 |
| Max drawdown (3Y) | -18.7% | -48.5% |
| Market cap | $1.3B | $3.5B |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBT | PLSE |
|---|---|---|
| 2022 | +8.1% | -81.3% |
| 2023 | +11.7% | +341.9% |
| 2024 | +7.7% | +42.2% |
| 2025 | +22.2% | -21.1% |
| 2026 | +41.4% | +253.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBT and PLSE good diversifiers for each other?
Reasonably. At 0.41, HBT and PLSE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HBT and PLSE?
The HBT/PLSE correlation stands at 0.41 on a 3-year window (1 year: 0.41, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is PLSE a good diversifier for HBT?
Reasonably. At 0.41, HBT and PLSE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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
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Related comparisons
Hubs: HBT correlations · PLSE correlations
