CAR vs HTZ: Correlation
How closely do Avis Budget Group, Inc. (CAR) and Hertz Global Holdings, Inc (HTZ) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAR and HTZ?
Across a 3-year window, the weekly returns of CAR and HTZ correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 4602.8 %².
Few assets follow CAR as closely as HTZ, which ranks #1 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with CAR ahead by 54.0 points (-11.1% versus -65.1%).
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.
CAR vs HTZ: side by side
| CAR (Avis Budget Group, Inc.) | HTZ (Hertz Global Holdings, Inc) | |
|---|---|---|
| 1-year return | -11.1% | -65.1% |
| 5-year return | +63.5% | -87.9% |
| Volatility (ann.) | 89.7% | 102.2% |
| Beta vs S&P 500 | 1.84 | 1.27 |
| Max drawdown (3Y) | -80.8% | -91.2% |
| Market cap | $4.9B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAR | HTZ |
|---|---|---|
| 2022 | -20.9% | -38.4% |
| 2023 | +13.8% | -32.5% |
| 2024 | -54.5% | -64.8% |
| 2025 | +59.2% | +40.4% |
| 2026 | +8.7% | -60.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAR and HTZ good diversifiers for each other?
Only partially. A correlation of 0.50 means CAR and HTZ 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 CAR and HTZ?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.54 over the last year and 0.50 over 5 years.
Is HTZ a good diversifier for CAR?
Only partially. A correlation of 0.50 means CAR and HTZ 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?
A reading of 0.50 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/car-vs-htz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/car-vs-htz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAR correlations · HTZ correlations
