2016 HO3 does not really orbit Earth.
It orbits the Sun in such a way that it happens to loop around Earth at distances of
0.1 to 0.25 AU.
Earth's gravitational sphere of influence is much smaller,
about 0.01 AU at most; outside that radius, the Sun is the dominant attractor.
The Minor Planet Center has an
which you can examine in 3D.
Earth's orbit is light blue.
2016 HO3's orbit is orange to the north of Earth's orbital plane and medium blue to the south.
A dark gray line passes through the Sun and the asteroid's perihelion and aphelion.
It's a moderately eccentric, moderately inclined orbit around the Sun with a 1.00 year period.
In the course of its solar orbit, the asteroid alternately moves slower, outside, and to the north of Earth's orbit; and faster, inside, and to the south.
In a rotating frame of reference fixed on Earth,
as in the video you've seen,
this looks like an oddly shaped, highly inclined, retrograde loop around Earth, but it is not due to Earth's gravity.
Earth's slight influence helps to maintain this coincidental pattern
but is not nearly enough to capture the asteroid.