BLBD vs HLIO: Correlation
Measured on weekly returns over the past three years, Blue Bird Corporation (BLBD) and Helios Technologies, Inc. (HLIO) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLBD and HLIO?
On 3 years of weekly data the BLBD/HLIO correlation comes out at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.48 over 3 years. The 5-year figure is 0.32, and annualized covariance runs at 1020.3 %².
HLIO is one of the assets that tracks BLBD most closely: it ranks #2 out of the 12 assets we track against BLBD. Correlation aside, the last 12 months split them widely, with HLIO ahead by 34.8 points (+3.0% versus +37.8%).
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.
BLBD vs HLIO: side by side
| BLBD (Blue Bird Corporation) | HLIO (Helios Technologies, Inc.) | |
|---|---|---|
| 1-year return | +3.0% | +37.8% |
| 5-year return | +182.6% | -5.7% |
| Volatility (ann.) | 49.8% | 42.8% |
| Beta vs S&P 500 | 0.95 | 1.18 |
| Max drawdown (3Y) | -45.9% | -55.9% |
| Market cap | $1.9B | $2.5B |
| P/E (trailing) | 7.2 | 34.9 |
| Dividend yield | 0.00% | 0.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLBD | HLIO |
|---|---|---|
| 2022 | -31.5% | -48.0% |
| 2023 | +151.7% | -16.2% |
| 2024 | +43.3% | -0.8% |
| 2025 | +21.7% | +21.0% |
| 2026 | +27.5% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLBD and HLIO good diversifiers for each other?
Reasonably. At 0.48, BLBD and HLIO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BLBD and HLIO?
As of 2026-08-27, the correlation of weekly returns between BLBD and HLIO is 0.48 over 3 years, 0.34 over 1 year and 0.32 over 5 years.
Is HLIO a good diversifier for BLBD?
Reasonably. At 0.48, BLBD and HLIO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: BLBD correlations · HLIO correlations
