AQB vs HFBL: Correlation
How closely do AquaBounty Technologies, Inc. (AQB) and Home Federal Bancorp, Inc. of Louisiana (HFBL) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQB and HFBL?
Over the past 3 years, AQB and HFBL moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.21). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -620.5 %².
Out of 10 assets tracked against AQB, HFBL lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with HFBL ahead by 57.7 points (+44.3% versus +102.0%). Note the risk asymmetry: AQB runs 3.2 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.
AQB vs HFBL: side by side
| AQB (AquaBounty Technologies, Inc.) | HFBL (Home Federal Bancorp, Inc. of Louisiana) | |
|---|---|---|
| 1-year return | +44.3% | +102.0% |
| 5-year return | -98.6% | +67.8% |
| Volatility (ann.) | 97.8% | 30.5% |
| Beta vs S&P 500 | 1.24 | 0.12 |
| Max drawdown (3Y) | -90.6% | -28.6% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 12.6 |
| Dividend yield | 0.00% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQB | HFBL |
|---|---|---|
| 2022 | -63.6% | -14.2% |
| 2023 | -81.3% | -13.5% |
| 2024 | -78.0% | -8.9% |
| 2025 | +48.6% | +49.2% |
| 2026 | +40.9% | +44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQB and HFBL good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AQB and HFBL?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.10 over the last year and -0.14 over 5 years.
Is HFBL a good diversifier for AQB?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/aqb-vs-hfbl.json
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Related comparisons
Hubs: AQB correlations · HFBL correlations
