EARN vs HNNA: Correlation
Ellington Credit Company (EARN) and Hennessy Advisors, Inc. (HNNA) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EARN and HNNA?
Over the past 3 years, EARN and HNNA moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.34). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 243.4 %².
Among the 14 assets we track against EARN, HNNA sits near the bottom by co-movement, at rank #11. Neither side won the trailing year by much: -7.9% against -7.4%.
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.
EARN vs HNNA: side by side
| EARN (Ellington Credit Company) | HNNA (Hennessy Advisors, Inc.) | |
|---|---|---|
| 1-year return | -7.9% | -7.4% |
| 5-year return | -17.5% | +35.8% |
| Volatility (ann.) | 24.8% | 28.4% |
| Beta vs S&P 500 | 0.92 | 0.37 |
| Max drawdown (3Y) | -31.2% | -34.0% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 15.9 | 9.5 |
| Dividend yield | 21.57% | 5.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EARN | HNNA |
|---|---|---|
| 2022 | -25.0% | -16.8% |
| 2023 | +3.0% | -13.8% |
| 2024 | +24.6% | +103.3% |
| 2025 | -5.9% | -20.8% |
| 2026 | -5.0% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EARN and HNNA good diversifiers for each other?
Reasonably. At 0.34, EARN and HNNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EARN and HNNA?
The EARN/HNNA correlation stands at 0.34 on a 3-year window (1 year: 0.18, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is HNNA a good diversifier for EARN?
Reasonably. At 0.34, EARN and HNNA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
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Related comparisons
Hubs: EARN correlations · HNNA correlations
