ARMK vs HLP: Correlation
How closely do Aramark (ARMK) and Hongli Group Inc. - Class A (HLP) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARMK and HLP?
On 3 years of weekly data the ARMK/HLP correlation comes out at 0.24, weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.24 over 3. The 5-year figure is n/a, and annualized covariance runs at 777.4 %².
Out of 12 assets tracked against ARMK, HLP lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months HLP outperformed by 39.1 percentage points (+50.6% for ARMK against +89.7% for HLP). One caveat on sizing: HLP is 4.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ARMK vs HLP: side by side
| ARMK (Aramark) | HLP (Hongli Group Inc. - Class A) | |
|---|---|---|
| 1-year return | +50.6% | +89.7% |
| 5-year return | +152.4% | n/a |
| Volatility (ann.) | 25.7% | 127.2% |
| Beta vs S&P 500 | 0.61 | 0.02 |
| Max drawdown (3Y) | -27.6% | -91.9% |
| Market cap | $15.5B | $0.1B |
| P/E (trailing) | 41.8 | 43.0 |
| Dividend yield | 0.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARMK | HLP |
|---|---|---|
| 2022 | +13.5% | – |
| 2023 | -4.7% | – |
| 2024 | +34.3% | -22.0% |
| 2025 | -0.1% | -20.6% |
| 2026 | +60.9% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARMK and HLP good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARMK and HLP?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with 0.19 over the last year and n/a over 5 years.
Is HLP a good diversifier for ARMK?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 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/armk-vs-hlp.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARMK correlations · HLP correlations
