AMR vs HNRG: Correlation
Alpha Metallurgical Resources, Inc. (AMR) and Hallador Energy Company (HNRG) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMR and HNRG?
Across a 3-year window, the weekly returns of AMR and HNRG correlate at 0.35, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.35). Stretching to 5 years gives 0.44, with an annualized covariance of 1436.4 %².
Among the 12 assets we track against AMR, HNRG ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMR ahead by 54.1 points (+56.1% versus +2.0%).
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.
AMR vs HNRG: side by side
| AMR (Alpha Metallurgical Resources, Inc.) | HNRG (Hallador Energy Company) | |
|---|---|---|
| 1-year return | +56.1% | +2.0% |
| 5-year return | +514.2% | +629.4% |
| Volatility (ann.) | 56.0% | 72.5% |
| Beta vs S&P 500 | 1.13 | 1.09 |
| Max drawdown (3Y) | -77.5% | -71.1% |
| Market cap | $2.9B | $0.8B |
| P/E (trailing) | – | 831.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMR | HNRG |
|---|---|---|
| 2022 | +150.1% | +306.1% |
| 2023 | +133.9% | -11.5% |
| 2024 | -41.0% | +29.5% |
| 2025 | -0.1% | +66.3% |
| 2026 | +13.8% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMR and HNRG good diversifiers for each other?
Reasonably. At 0.35, AMR and HNRG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMR and HNRG?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.16 over the last year and 0.44 over 5 years.
Is HNRG a good diversifier for AMR?
Reasonably. At 0.35, AMR and HNRG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/amr-vs-hnrg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amr-vs-hnrg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMR correlations · HNRG correlations
