CVLT vs HLI: Correlation
How closely do Commvault Systems, Inc. (CVLT) and Houlihan Lokey, Inc. (HLI) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLT and HLI?
Over the past 3 years, CVLT and HLI moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 583.8 %².
In CVLT's tracked universe of 10 assets, HLI sits right near the top at #3. Over the last 12 months CVLT came out ahead by 9.9 percentage points (-23.8% against -33.7%). One caveat on sizing: CVLT is 1.7 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.
CVLT vs HLI: side by side
| CVLT (Commvault Systems, Inc.) | HLI (Houlihan Lokey, Inc.) | |
|---|---|---|
| 1-year return | -23.8% | -33.7% |
| 5-year return | +73.1% | +58.6% |
| Volatility (ann.) | 44.6% | 25.5% |
| Beta vs S&P 500 | 1.29 | 0.95 |
| Max drawdown (3Y) | -61.5% | -40.3% |
| Market cap | $5.8B | $9.1B |
| P/E (trailing) | 86.1 | 21.8 |
| Dividend yield | 0.00% | 1.93% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVLT | HLI |
|---|---|---|
| 2022 | -8.8% | -13.9% |
| 2023 | +27.1% | +40.7% |
| 2024 | +89.0% | +47.0% |
| 2025 | -16.9% | +1.6% |
| 2026 | +12.0% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLT and HLI good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CVLT and HLI?
The CVLT/HLI correlation stands at 0.51 on a 3-year window (1 year: 0.55, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is HLI a good diversifier for CVLT?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/cvlt-vs-hli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvlt-vs-hli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVLT correlations · HLI correlations
