FRT vs HLP: Correlation
Measured on weekly returns over the past three years, Federal Realty Investment Trust (FRT) and Hongli Group Inc. - Class A (HLP) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and HLP?
On 3 years of weekly data the FRT/HLP correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.29) than the 3-year average (-0.18). The 5-year figure is n/a, and annualized covariance runs at -448.4 %².
Among the 46 assets we track against FRT, HLP ranks #37 by 3-year correlation. The last year tells two different stories: HLP led by 68.1 percentage points, +21.6% for FRT against +89.7% for HLP. Note the risk asymmetry: HLP runs 6.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FRT vs HLP: side by side
| FRT (Federal Realty Investment Trust) | HLP (Hongli Group Inc. - Class A) | |
|---|---|---|
| 1-year return | +21.6% | +89.7% |
| 5-year return | +18.8% | n/a |
| Volatility (ann.) | 19.5% | 127.2% |
| Beta vs S&P 500 | 0.53 | 0.02 |
| Max drawdown (3Y) | -27.4% | -91.9% |
| Market cap | $10.2B | $0.1B |
| P/E (trailing) | 23.6 | 43.0 |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | HLP |
|---|---|---|
| 2022 | -22.7% | – |
| 2023 | +6.6% | – |
| 2024 | +12.1% | -22.0% |
| 2025 | -5.9% | -20.6% |
| 2026 | +19.7% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and HLP good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRT and HLP?
As of 2026-08-27, the correlation of weekly returns between FRT and HLP is -0.18 over 3 years, -0.29 over 1 year and n/a over 5 years.
Is HLP a good diversifier for FRT?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frt-vs-hlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frt-vs-hlp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRT correlations · HLP correlations
