FLO vs HRL: Correlation
How closely do Flowers Foods, Inc. (FLO) and Hormel Foods (HRL) 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 FLO and HRL?
Across a 3-year window, the weekly returns of FLO and HRL correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 305.9 %².
By 3-year correlation, HRL places #6 of the 15 assets tracked against FLO. Their recent paths diverged sharply: over the last 12 months HRL outperformed by 26.9 percentage points (-49.7% for FLO 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.
FLO vs HRL: side by side
| FLO (Flowers Foods, Inc.) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | -49.7% | -22.8% |
| 5-year return | -63.2% | -44.3% |
| Volatility (ann.) | 26.8% | 26.1% |
| Beta vs S&P 500 | 0.20 | 0.07 |
| Max drawdown (3Y) | -68.8% | -44.5% |
| Market cap | $1.5B | – |
| P/E (trailing) | 26.8 | 28.0 |
| Dividend yield | 13.81% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | FLO | HRL |
|---|---|---|
| 2022 | +8.0% | -4.7% |
| 2023 | -18.6% | -27.5% |
| 2024 | -4.3% | +1.2% |
| 2025 | -43.6% | -21.3% |
| 2026 | -33.0% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLO and HRL good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FLO and HRL?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.38 over the last year and 0.43 over 5 years.
Is HRL a good diversifier for FLO?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/flo-vs-hrl.json
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Related comparisons
Hubs: FLO correlations · HRL correlations
