FCPT vs HRL: Correlation
Four Corners Property Trust, Inc. (FCPT) and Hormel Foods (HRL) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and HRL?
On 3 years of weekly data the FCPT/HRL correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.36 over 3. The 5-year figure is 0.38, and annualized covariance runs at 166.3 %².
Within FCPT's tracked universe of 17 assets, HRL comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FCPT outperformed by 26.6 percentage points (+3.8% for FCPT against -22.8% for HRL).
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.
FCPT vs HRL: side by side
| FCPT (Four Corners Property Trust, Inc.) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | +3.8% | -22.8% |
| 5-year return | +16.6% | -44.3% |
| Volatility (ann.) | 17.5% | 26.1% |
| Beta vs S&P 500 | 0.32 | 0.07 |
| Max drawdown (3Y) | -20.2% | -44.5% |
| Market cap | $2.8B | – |
| P/E (trailing) | 22.9 | 28.0 |
| Dividend yield | 5.75% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | FCPT | HRL |
|---|---|---|
| 2022 | -7.2% | -4.7% |
| 2023 | +3.1% | -27.5% |
| 2024 | +13.1% | +1.2% |
| 2025 | -10.1% | -21.3% |
| 2026 | +13.1% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCPT and HRL good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FCPT and HRL?
The FCPT/HRL correlation stands at 0.36 on a 3-year window (1 year: 0.34, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is HRL a good diversifier for FCPT?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/fcpt-vs-hrl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcpt-vs-hrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCPT correlations · HRL correlations
