BWIN vs HFFG: Correlation
Measured on weekly returns over the past three years, The Baldwin Insurance Group, Inc. (BWIN) and HF Foods Group Inc. (HFFG) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWIN and HFFG?
On 3 years of weekly data the BWIN/HFFG correlation comes out at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.51) runs above the 3-year figure (0.35). The 5-year figure is 0.33, and annualized covariance runs at 1297.8 %².
Among the 11 assets we track against BWIN, HFFG ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BWIN outperformed by 42.4 percentage points (-6.0% for BWIN against -48.4% for HFFG).
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.
BWIN vs HFFG: side by side
| BWIN (The Baldwin Insurance Group, Inc.) | HFFG (HF Foods Group Inc.) | |
|---|---|---|
| 1-year return | -6.0% | -48.4% |
| 5-year return | -13.5% | -69.2% |
| Volatility (ann.) | 54.6% | 67.7% |
| Beta vs S&P 500 | 0.60 | 0.86 |
| Max drawdown (3Y) | -70.2% | -75.7% |
| Market cap | $2.9B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWIN | HFFG |
|---|---|---|
| 2022 | -30.4% | -52.0% |
| 2023 | -4.5% | +31.5% |
| 2024 | +61.4% | -39.9% |
| 2025 | -38.0% | -33.0% |
| 2026 | +25.5% | -16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWIN and HFFG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BWIN and HFFG?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.51 over the last year and 0.33 over 5 years.
Is HFFG a good diversifier for BWIN?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bwin-vs-hffg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwin-vs-hffg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWIN correlations · HFFG correlations
