EQNR vs HLMN: Correlation
How closely do Equinor ASA (EQNR) and Hillman Solutions Corp. (HLMN) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and HLMN?
On 3 years of weekly data the EQNR/HLMN correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.31 over 3 years. The 5-year figure is -0.07, and annualized covariance runs at -371.9 %².
By 3-year correlation, HLMN places #72 of the 79 assets tracked against EQNR. Their recent paths diverged sharply: over the last 12 months EQNR outperformed by 98.5 percentage points (+77.2% for EQNR against -21.3% for HLMN).
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.
EQNR vs HLMN: side by side
| EQNR (Equinor ASA) | HLMN (Hillman Solutions Corp.) | |
|---|---|---|
| 1-year return | +77.2% | -21.3% |
| 5-year return | +180.6% | -33.4% |
| Volatility (ann.) | 33.2% | 36.7% |
| Beta vs S&P 500 | -0.25 | 1.01 |
| Max drawdown (3Y) | -27.6% | -42.3% |
| Market cap | $98.6B | $1.5B |
| P/E (trailing) | 11.2 | 39.2 |
| Dividend yield | 3.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | HLMN |
|---|---|---|
| 2022 | +42.8% | -32.9% |
| 2023 | -0.8% | +27.7% |
| 2024 | -16.0% | +5.8% |
| 2025 | +6.1% | -11.1% |
| 2026 | +81.8% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and HLMN good diversifiers for each other?
Yes. With a correlation of -0.31, EQNR and HLMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQNR and HLMN?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.42 over the last year and -0.07 over 5 years.
Is HLMN a good diversifier for EQNR?
Yes. With a correlation of -0.31, EQNR and HLMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/eqnr-vs-hlmn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqnr-vs-hlmn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQNR correlations · HLMN correlations
