RETO vs WHF: Correlation
Measured on weekly returns over the past three years, ReTo Eco-Solutions, Inc. - Class A Shares (RETO) and WhiteHorse Finance, Inc. - Closed End Fund (WHF) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RETO and WHF?
Over the past 3 years, RETO and WHF moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.09) runs above the 3-year figure (-0.22). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -2028.1 %².
Within RETO's tracked universe of 63 assets, WHF comes in at #50 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WHF outperformed by 93.8 percentage points (-96.3% for RETO against -2.5% for WHF). Note the risk asymmetry: RETO runs 17.7 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.
RETO vs WHF: side by side
| RETO (ReTo Eco-Solutions, Inc. - Class A Shares) | WHF (WhiteHorse Finance, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | -96.3% | -2.5% |
| 5-year return | -100.0% | -11.5% |
| Volatility (ann.) | 399.9% | 22.6% |
| Beta vs S&P 500 | -2.83 | 0.25 |
| Max drawdown (3Y) | -99.5% | -37.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 16.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RETO | WHF |
|---|---|---|
| 2022 | -75.9% | -6.2% |
| 2023 | -99.1% | +6.3% |
| 2024 | -74.9% | -8.5% |
| 2025 | -57.1% | -15.4% |
| 2026 | -81.7% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RETO and WHF good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between RETO and WHF?
As of 2026-08-27, the correlation of weekly returns between RETO and WHF is -0.22 over 3 years, 0.09 over 1 year and -0.15 over 5 years.
Is WHF a good diversifier for RETO?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RETO correlations · WHF correlations
