HCA vs TRT: Correlation
How closely do HCA Healthcare (HCA) and Trio-Tech International (TRT) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCA and TRT?
On 3 years of weekly data the HCA/TRT correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.32 versus -0.19 over 3 years. The 5-year figure is -0.08, and annualized covariance runs at -547.6 %².
Among the 32 assets we track against HCA, TRT ranks #24 by 3-year correlation. The last year tells two different stories: TRT led by 291.3 percentage points, +4.2% for HCA against +295.5% for TRT. Risk is not evenly split, since TRT carries 4.0 times the volatility of the other side.
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.
HCA vs TRT: side by side
| HCA (HCA Healthcare) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | +4.2% | +295.5% |
| 5-year return | +72.5% | +365.8% |
| Volatility (ann.) | 26.9% | 107.4% |
| Beta vs S&P 500 | 0.42 | 0.18 |
| Max drawdown (3Y) | -33.6% | -54.6% |
| Market cap | $90.8B | – |
| P/E (trailing) | 14.1 | 209.6 |
| Dividend yield | 0.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | HCA | TRT |
|---|---|---|
| 2022 | -5.6% | -66.5% |
| 2023 | +13.8% | +12.7% |
| 2024 | +11.8% | +14.6% |
| 2025 | +56.7% | +127.9% |
| 2026 | -9.9% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCA and TRT good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HCA and TRT?
The HCA/TRT correlation stands at -0.19 on a 3-year window (1 year: -0.32, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is TRT a good diversifier for HCA?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
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/hca-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hca-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HCA correlations · TRT correlations
