ECHO vs HRL: Correlation
EchoStar (ECHO) and Hormel Foods (HRL) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and HRL?
Across a 3-year window, the weekly returns of ECHO and HRL correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -466.6 %².
Among the 35 assets we track against ECHO, HRL sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with ECHO ahead by 70.0 points (+47.2% versus -22.8%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.49 to 0.30. One caveat on sizing: ECHO is 3.5 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.
ECHO vs HRL: side by side
| ECHO (EchoStar) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | +47.2% | -22.8% |
| 5-year return | +227.3% | -44.3% |
| Volatility (ann.) | 91.1% | 26.1% |
| Beta vs S&P 500 | 1.17 | 0.07 |
| Max drawdown (3Y) | -50.1% | -44.5% |
| Market cap | $25.1B | – |
| P/E (trailing) | – | 28.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | Consumer Staples |
Year-by-year returns
| Year | ECHO | HRL |
|---|---|---|
| 2022 | -36.7% | -4.7% |
| 2023 | -0.7% | -27.5% |
| 2024 | +38.2% | +1.2% |
| 2025 | +374.7% | -21.3% |
| 2026 | -20.5% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and HRL good diversifiers for each other?
Yes. With a correlation of -0.20, ECHO and HRL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ECHO and HRL?
As of 2026-08-27, the correlation of weekly returns between ECHO and HRL is -0.20 over 3 years, -0.15 over 1 year and -0.13 over 5 years.
Is HRL a good diversifier for ECHO?
Yes. With a correlation of -0.20, ECHO and HRL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/echo-vs-hrl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/echo-vs-hrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ECHO correlations · HRL correlations
