CME vs HII: Correlation
CME Group (CME) and Huntington Ingalls Industries (HII) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and HII?
Across a 3-year window, the weekly returns of CME and HII correlate at 0.26, weak. The past 12 months show a tighter link (0.39) than the 3-year average (0.26). Stretching to 5 years gives 0.22, with an annualized covariance of 183.0 %².
By 3-year correlation, HII places #14 of the 47 assets tracked against CME. Neither side won the trailing year by much: +8.1% against +9.4%. The rolling one-year correlation moved between 0.08 and 0.42 over the past three years, a moderate range. One caveat on sizing: HII is 1.8 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.
CME vs HII: side by side
| CME (CME Group) | HII (Huntington Ingalls Industries) | |
|---|---|---|
| 1-year return | +8.1% | +9.4% |
| 5-year return | +73.9% | +59.2% |
| Volatility (ann.) | 20.0% | 35.3% |
| Beta vs S&P 500 | 0.12 | 0.84 |
| Max drawdown (3Y) | -31.1% | -45.2% |
| Market cap | $101.0B | $11.7B |
| P/E (trailing) | 23.8 | 17.7 |
| Dividend yield | 1.82% | 1.85% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | CME | HII |
|---|---|---|
| 2022 | -22.9% | +26.3% |
| 2023 | +31.3% | +15.2% |
| 2024 | +15.4% | -25.7% |
| 2025 | +19.8% | +84.2% |
| 2026 | +5.9% | -11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and HII good diversifiers for each other?
Reasonably. At 0.26, CME and HII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CME and HII?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.39 over the last year and 0.22 over 5 years.
Is HII a good diversifier for CME?
Reasonably. At 0.26, CME and HII keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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
$ curl https://www.pairbook.io/api/v1/pairs/cme-vs-hii.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cme-vs-hii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CME correlations · HII correlations
