CPB vs HRL: Correlation
How closely do The Campbell's Company (CPB) and Hormel Foods (HRL) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPB and HRL?
Across a 3-year window, the weekly returns of CPB and HRL correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 274.1 %².
Within CPB's tracked universe of 20 assets, HRL comes in at #9 by 3-year correlation. Neither side won the trailing year by much: -22.8% against -22.8%.
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.
CPB vs HRL: side by side
| CPB (The Campbell's Company) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | -22.8% | -22.8% |
| 5-year return | -30.8% | -44.3% |
| Volatility (ann.) | 24.5% | 26.1% |
| Beta vs S&P 500 | 0.07 | 0.07 |
| Max drawdown (3Y) | -58.1% | -44.5% |
| Market cap | – | – |
| P/E (trailing) | 11.4 | 28.0 |
| Dividend yield | 6.72% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CPB | HRL |
|---|---|---|
| 2022 | +34.8% | -4.7% |
| 2023 | -21.5% | -27.5% |
| 2024 | +0.1% | +1.2% |
| 2025 | -30.5% | -21.3% |
| 2026 | -12.2% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPB and HRL good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CPB and HRL?
As of 2026-08-27, the correlation of weekly returns between CPB and HRL is 0.43 over 3 years, 0.41 over 1 year and 0.46 over 5 years.
Is HRL a good diversifier for CPB?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/cpb-vs-hrl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpb-vs-hrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPB correlations · HRL correlations
