PTHS vs RCAT: Correlation
Pelthos Therapeutics Inc. (PTHS) and Red Cat Holdings, Inc. (RCAT) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTHS and RCAT?
Across a 3-year window, the weekly returns of PTHS and RCAT correlate at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -2895.7 %².
RCAT is close to the least connected end of PTHS's tracked universe, ranking #11 of 14. Their 12-month results are close: +5.4% for PTHS against +3.4% for RCAT.
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.
PTHS vs RCAT: side by side
| PTHS (Pelthos Therapeutics Inc.) | RCAT (Red Cat Holdings, Inc.) | |
|---|---|---|
| 1-year return | +5.4% | +3.4% |
| 5-year return | n/a | +239.9% |
| Volatility (ann.) | 125.0% | 121.3% |
| Beta vs S&P 500 | 1.67 | 1.43 |
| Max drawdown (3Y) | -88.7% | -67.2% |
| Market cap | $0.1B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PTHS | RCAT |
|---|---|---|
| 2022 | – | -54.8% |
| 2023 | – | -6.4% |
| 2024 | – | +1360.2% |
| 2025 | +383.6% | -38.3% |
| 2026 | -19.4% | +17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTHS and RCAT good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between PTHS and RCAT?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.09 over the last year and n/a over 5 years.
Is RCAT a good diversifier for PTHS?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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/pths-vs-rcat.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pths-vs-rcat/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PTHS correlations · RCAT correlations
