DLTR vs HRL: Correlation
Measured on weekly returns over the past three years, Dollar Tree (DLTR) and Hormel Foods (HRL) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLTR and HRL?
On 3 years of weekly data the DLTR/HRL correlation comes out at 0.28, weak. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.28 over 3 years. The 5-year figure is 0.25, and annualized covariance runs at 274.8 %².
By 3-year correlation, HRL places #18 of the 32 assets tracked against DLTR. Their recent paths diverged sharply: over the last 12 months DLTR outperformed by 35.3 percentage points (+12.5% for DLTR against -22.8% for HRL). This link changes with the market regime, having swung between -0.06 and 0.55 on a rolling one-year basis.
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.
DLTR vs HRL: side by side
| DLTR (Dollar Tree) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | +12.5% | -22.8% |
| 5-year return | +39.7% | -44.3% |
| Volatility (ann.) | 37.3% | 26.1% |
| Beta vs S&P 500 | 0.70 | 0.07 |
| Max drawdown (3Y) | -59.2% | -44.5% |
| Market cap | $23.8B | – |
| P/E (trailing) | 21.2 | 28.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | DLTR | HRL |
|---|---|---|
| 2022 | +0.7% | -4.7% |
| 2023 | +0.4% | -27.5% |
| 2024 | -47.2% | +1.2% |
| 2025 | +64.1% | -21.3% |
| 2026 | +3.2% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLTR and HRL good diversifiers for each other?
Reasonably. At 0.28, DLTR and HRL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DLTR and HRL?
The DLTR/HRL correlation stands at 0.28 on a 3-year window (1 year: 0.55, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is HRL a good diversifier for DLTR?
Reasonably. At 0.28, DLTR and HRL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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/dltr-vs-hrl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dltr-vs-hrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DLTR correlations · HRL correlations
