ALTO vs HUBB: Correlation
Alto Ingredients, Inc. (ALTO) and Hubbell Incorporated (HUBB) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and HUBB?
Across a 3-year window, the weekly returns of ALTO and HUBB correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.22). Stretching to 5 years gives -0.07, with an annualized covariance of -579.1 %².
Out of 15 assets tracked against ALTO, HUBB lands near the bottom at #11. The last year tells two different stories: ALTO led by 282.8 percentage points, +289.5% for ALTO against +6.7% for HUBB. Note the risk asymmetry: ALTO runs 3.3 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.
ALTO vs HUBB: side by side
| ALTO (Alto Ingredients, Inc.) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | +289.5% | +6.7% |
| 5-year return | -16.4% | +142.6% |
| Volatility (ann.) | 93.7% | 28.3% |
| Beta vs S&P 500 | 0.15 | 1.10 |
| Max drawdown (3Y) | -84.1% | -32.6% |
| Market cap | $0.3B | $24.8B |
| P/E (trailing) | 6.1 | 27.9 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ALTO | HUBB |
|---|---|---|
| 2022 | -40.1% | +15.1% |
| 2023 | -7.6% | +42.4% |
| 2024 | -41.4% | +28.9% |
| 2025 | +84.6% | +7.4% |
| 2026 | +42.0% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and HUBB good diversifiers for each other?
Yes. With a correlation of -0.22, ALTO and HUBB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALTO and HUBB?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.41 over the last year and -0.07 over 5 years.
Is HUBB a good diversifier for ALTO?
Yes. With a correlation of -0.22, ALTO and HUBB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alto-vs-hubb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ALTO correlations · HUBB correlations
