CNR vs HCC: Correlation
How closely do Core Natural Resources, Inc. (CNR) and Warrior Met Coal, Inc. (HCC) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNR and HCC?
Across a 3-year window, the weekly returns of CNR and HCC correlate at 0.70, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.70 over 3. Stretching to 5 years gives 0.65, with an annualized covariance of 1477.3 %².
HCC is one of the assets that tracks CNR most closely: it ranks #2 out of the 13 assets we track against CNR. Their recent paths diverged sharply: over the last 12 months HCC outperformed by 44.0 percentage points (+40.3% for CNR against +84.3% for HCC).
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.
CNR vs HCC: side by side
| CNR (Core Natural Resources, Inc.) | HCC (Warrior Met Coal, Inc.) | |
|---|---|---|
| 1-year return | +40.3% | +84.3% |
| 5-year return | +395.6% | +450.1% |
| Volatility (ann.) | 43.9% | 48.0% |
| Beta vs S&P 500 | 0.53 | 0.98 |
| Max drawdown (3Y) | -52.1% | -45.5% |
| Market cap | $5.0B | $5.7B |
| P/E (trailing) | 49.3 | 25.3 |
| Dividend yield | 0.41% | 0.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNR | HCC |
|---|---|---|
| 2022 | +195.5% | +41.0% |
| 2023 | +60.7% | +81.6% |
| 2024 | +6.6% | -9.8% |
| 2025 | -16.6% | +63.5% |
| 2026 | +15.1% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNR and HCC good diversifiers for each other?
Only partially. A correlation of 0.70 means CNR and HCC 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 CNR and HCC?
As of 2026-08-27, the correlation of weekly returns between CNR and HCC is 0.70 over 3 years, 0.67 over 1 year and 0.65 over 5 years.
Is HCC a good diversifier for CNR?
Only partially. A correlation of 0.70 means CNR and HCC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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.
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Related comparisons
Hubs: CNR correlations · HCC correlations
