APOG vs HRL: Correlation
How closely do Apogee Enterprises, Inc. (APOG) and Hormel Foods (HRL) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APOG and HRL?
Across a 3-year window, the weekly returns of APOG and HRL correlate at 0.36, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.36). Stretching to 5 years gives 0.34, with an annualized covariance of 393.5 %².
Within APOG's tracked universe of 15 assets, HRL comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APOG ahead by 17.1 points (-5.7% versus -22.8%). Note the risk asymmetry: APOG runs 1.6 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.
APOG vs HRL: side by side
| APOG (Apogee Enterprises, Inc.) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | -5.7% | -22.8% |
| 5-year return | +5.1% | -44.3% |
| Volatility (ann.) | 41.4% | 26.1% |
| Beta vs S&P 500 | 0.88 | 0.07 |
| Max drawdown (3Y) | -62.5% | -44.5% |
| Market cap | $0.8B | – |
| P/E (trailing) | 12.7 | 28.0 |
| Dividend yield | 2.59% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | APOG | HRL |
|---|---|---|
| 2022 | -5.7% | -4.7% |
| 2023 | +22.8% | -27.5% |
| 2024 | +35.8% | +1.2% |
| 2025 | -47.8% | -21.3% |
| 2026 | +14.0% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APOG and HRL good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APOG and HRL?
The APOG/HRL correlation stands at 0.36 on a 3-year window (1 year: 0.52, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is HRL a good diversifier for APOG?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/apog-vs-hrl.json
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Related comparisons
Hubs: APOG correlations · HRL correlations
