AGRO vs HNI: Correlation
Adecoagro S.A. (AGRO) and HNI Corporation (HNI) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and HNI?
On 3 years of weekly data the AGRO/HNI correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.26 over 3 years. The 5-year figure is -0.12, and annualized covariance runs at -368.5 %².
By 3-year correlation, HNI places #31 of the 36 assets tracked against AGRO. The trailing year gives AGRO the advantage: +28.1% versus +14.3%, a 13.8-point spread.
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.
AGRO vs HNI: side by side
| AGRO (Adecoagro S.A.) | HNI (HNI Corporation) | |
|---|---|---|
| 1-year return | +28.1% | +14.3% |
| 5-year return | +29.1% | +55.8% |
| Volatility (ann.) | 41.7% | 34.5% |
| Beta vs S&P 500 | -0.27 | 0.87 |
| Max drawdown (3Y) | -41.3% | -47.1% |
| Market cap | $1.5B | $3.6B |
| P/E (trailing) | 28.9 | – |
| Dividend yield | 0.00% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGRO | HNI |
|---|---|---|
| 2022 | +11.5% | -29.9% |
| 2023 | +38.6% | +53.2% |
| 2024 | -12.4% | +23.8% |
| 2025 | -14.3% | -13.9% |
| 2026 | +36.0% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and HNI good diversifiers for each other?
Yes. With a correlation of -0.26, AGRO and HNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGRO and HNI?
As of 2026-08-27, the correlation of weekly returns between AGRO and HNI is -0.26 over 3 years, -0.40 over 1 year and -0.12 over 5 years.
Is HNI a good diversifier for AGRO?
Yes. With a correlation of -0.26, AGRO and HNI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/agro-vs-hni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agro-vs-hni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGRO correlations · HNI correlations
