BXC vs HYFM: Correlation
Measured on weekly returns over the past three years, Bluelinx Holdings Inc. (BXC) and Hydrofarm Holdings Group, Inc. (HYFM) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXC and HYFM?
Over the past 3 years, BXC and HYFM moved with a correlation of 0.50, which is moderate. The past 12 months show a tighter link (0.73) than the 3-year average (0.50). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 4672.5 %².
By 3-year correlation, HYFM places #20 of the 33 assets tracked against BXC. Their recent paths diverged sharply: over the last 12 months BXC outperformed by 77.9 percentage points (-2.6% for BXC against -80.5% for HYFM). Risk is not evenly split, since HYFM carries 2.4 times the volatility of the other side.
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.
BXC vs HYFM: side by side
| BXC (Bluelinx Holdings Inc.) | HYFM (Hydrofarm Holdings Group, Inc.) | |
|---|---|---|
| 1-year return | -2.6% | -80.5% |
| 5-year return | +33.6% | -99.8% |
| Volatility (ann.) | 62.7% | 148.0% |
| Beta vs S&P 500 | 1.54 | 2.71 |
| Max drawdown (3Y) | -65.6% | -96.6% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXC | HYFM |
|---|---|---|
| 2022 | -25.7% | -94.5% |
| 2023 | +59.3% | -40.8% |
| 2024 | -9.8% | -36.8% |
| 2025 | -39.9% | -74.0% |
| 2026 | +29.8% | -41.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXC and HYFM good diversifiers for each other?
Only partially. A correlation of 0.50 means BXC and HYFM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BXC and HYFM?
The BXC/HYFM correlation stands at 0.50 on a 3-year window (1 year: 0.73, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is HYFM a good diversifier for BXC?
Only partially. A correlation of 0.50 means BXC and HYFM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/bxc-vs-hyfm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxc-vs-hyfm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXC correlations · HYFM correlations
