EYE vs HNI: Correlation
How closely do National Vision Holdings, Inc. (EYE) and HNI Corporation (HNI) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EYE and HNI?
Across a 3-year window, the weekly returns of EYE and HNI correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 784.2 %².
Within EYE's tracked universe of 10 assets, HNI comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HNI ahead by 41.0 points (-26.7% versus +14.3%). One caveat on sizing: EYE is 1.5 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.
EYE vs HNI: side by side
| EYE (National Vision Holdings, Inc.) | HNI (HNI Corporation) | |
|---|---|---|
| 1-year return | -26.7% | +14.3% |
| 5-year return | -69.8% | +55.8% |
| Volatility (ann.) | 52.1% | 34.5% |
| Beta vs S&P 500 | 0.86 | 0.87 |
| Max drawdown (3Y) | -59.3% | -47.1% |
| Market cap | $1.4B | $3.6B |
| P/E (trailing) | 30.3 | – |
| Dividend yield | 0.00% | 2.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EYE | HNI |
|---|---|---|
| 2022 | -19.2% | -29.9% |
| 2023 | -46.0% | +53.2% |
| 2024 | -50.2% | +23.8% |
| 2025 | +147.8% | -13.9% |
| 2026 | -30.8% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EYE and HNI good diversifiers for each other?
Reasonably. At 0.44, EYE and HNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EYE and HNI?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.51 over the last year and 0.35 over 5 years.
Is HNI a good diversifier for EYE?
Reasonably. At 0.44, EYE and HNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/eye-vs-hni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eye-vs-hni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EYE correlations · HNI correlations
