ETD vs HLP: Correlation
Measured on weekly returns over the past three years, Ethan Allen Interiors Inc. (ETD) and Hongli Group Inc. - Class A (HLP) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETD and HLP?
On 3 years of weekly data the ETD/HLP correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -933.6 %².
HLP is close to the least connected end of ETD's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months HLP outperformed by 105.0 percentage points (-15.3% for ETD against +89.7% for HLP). One caveat on sizing: HLP is 4.5 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.
ETD vs HLP: side by side
| ETD (Ethan Allen Interiors Inc.) | HLP (Hongli Group Inc. - Class A) | |
|---|---|---|
| 1-year return | -15.3% | +89.7% |
| 5-year return | +35.4% | n/a |
| Volatility (ann.) | 28.2% | 127.2% |
| Beta vs S&P 500 | 0.66 | 0.02 |
| Max drawdown (3Y) | -36.8% | -91.9% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | 15.1 | 43.0 |
| Dividend yield | 6.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETD | HLP |
|---|---|---|
| 2022 | +7.5% | – |
| 2023 | +28.7% | – |
| 2024 | -6.0% | -22.0% |
| 2025 | -13.2% | -20.6% |
| 2026 | +9.3% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETD and HLP good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ETD and HLP?
As of 2026-08-27, the correlation of weekly returns between ETD and HLP is -0.26 over 3 years, -0.20 over 1 year and n/a over 5 years.
Is HLP a good diversifier for ETD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/etd-vs-hlp.json
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Related comparisons
Hubs: ETD correlations · HLP correlations
