DSWL vs HRI: Correlation
Measured on weekly returns over the past three years, Deswell Industries, Inc. (DSWL) and Herc Holdings Inc. (HRI) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSWL and HRI?
Over the past 3 years, DSWL and HRI moved with a correlation of 0.36, which is moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 588.0 %².
Among the 10 assets we track against DSWL, HRI ranks #4 by 3-year correlation. The last year tells two different stories: HRI led by 29.3 percentage points, -10.4% for DSWL against +18.9% for HRI. One caveat on sizing: HRI 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.
DSWL vs HRI: side by side
| DSWL (Deswell Industries, Inc.) | HRI (Herc Holdings Inc.) | |
|---|---|---|
| 1-year return | -10.4% | +18.9% |
| 5-year return | +0.8% | +27.3% |
| Volatility (ann.) | 30.4% | 54.2% |
| Beta vs S&P 500 | 0.34 | 1.68 |
| Max drawdown (3Y) | -29.5% | -60.9% |
| Market cap | – | $5.2B |
| P/E (trailing) | 4.6 | 92.0 |
| Dividend yield | 6.45% | 1.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSWL | HRI |
|---|---|---|
| 2022 | -14.1% | -14.4% |
| 2023 | -8.3% | +15.5% |
| 2024 | -2.9% | +29.4% |
| 2025 | +54.7% | -20.1% |
| 2026 | -5.7% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSWL and HRI good diversifiers for each other?
Reasonably. At 0.36, DSWL and HRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DSWL and HRI?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.34 over the last year and 0.33 over 5 years.
Is HRI a good diversifier for DSWL?
Reasonably. At 0.36, DSWL and HRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/dswl-vs-hri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dswl-vs-hri/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DSWL correlations · HRI correlations
