ADEA vs HIHO: Correlation
Measured on weekly returns over the past three years, Adeia Inc. (ADEA) and Highway Holdings Limited (HIHO) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADEA and HIHO?
On 3 years of weekly data the ADEA/HIHO correlation comes out at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.35). The 5-year figure is 0.25, and annualized covariance runs at 1204.7 %².
By 3-year correlation, HIHO places #7 of the 12 assets tracked against ADEA. The last year tells two different stories: ADEA led by 116.9 percentage points, +70.2% for ADEA against -46.7% for HIHO.
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.
ADEA vs HIHO: side by side
| ADEA (Adeia Inc.) | HIHO (Highway Holdings Limited) | |
|---|---|---|
| 1-year return | +70.2% | -46.7% |
| 5-year return | +208.1% | -69.9% |
| Volatility (ann.) | 48.4% | 70.6% |
| Beta vs S&P 500 | 1.10 | 0.55 |
| Max drawdown (3Y) | -34.8% | -70.9% |
| Market cap | $2.9B | – |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 0.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADEA | HIHO |
|---|---|---|
| 2022 | +18.5% | -43.3% |
| 2023 | +33.5% | +0.9% |
| 2024 | +14.8% | +3.5% |
| 2025 | +25.2% | -18.5% |
| 2026 | +52.9% | -41.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADEA and HIHO good diversifiers for each other?
Reasonably. At 0.35, ADEA and HIHO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADEA and HIHO?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.55 over the last year and 0.25 over 5 years.
Is HIHO a good diversifier for ADEA?
Reasonably. At 0.35, ADEA and HIHO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adea-vs-hiho.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adea-vs-hiho/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADEA correlations · HIHO correlations
