EVI vs HLNE: Correlation
Measured on weekly returns over the past three years, EVI Industries, Inc. (EVI) and Hamilton Lane Incorporated (HLNE) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVI and HLNE?
On 3 years of weekly data the EVI/HLNE correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 738.0 %².
HLNE is one of the assets that tracks EVI most closely: it ranks #2 out of the 12 assets we track against EVI. Their recent paths diverged sharply: over the last 12 months HLNE outperformed by 16.6 percentage points (-46.0% for EVI against -29.4% for HLNE).
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.
EVI vs HLNE: side by side
| EVI (EVI Industries, Inc.) | HLNE (Hamilton Lane Incorporated) | |
|---|---|---|
| 1-year return | -46.0% | -29.4% |
| 5-year return | -38.2% | +32.3% |
| Volatility (ann.) | 50.2% | 37.2% |
| Beta vs S&P 500 | 1.05 | 1.23 |
| Max drawdown (3Y) | -59.0% | -62.3% |
| Market cap | $0.2B | $5.9B |
| P/E (trailing) | 32.7 | 16.0 |
| Dividend yield | 0.00% | 2.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVI | HLNE |
|---|---|---|
| 2022 | -23.6% | -37.0% |
| 2023 | +0.5% | +81.4% |
| 2024 | -30.0% | +32.4% |
| 2025 | +52.2% | -7.9% |
| 2026 | -40.3% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVI and HLNE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EVI and HLNE?
The EVI/HLNE correlation stands at 0.40 on a 3-year window (1 year: 0.32, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is HLNE a good diversifier for EVI?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EVI correlations · HLNE correlations
