GFF vs HY: Correlation
Measured on weekly returns over the past three years, Griffon Corporation (GFF) and Hyster-Yale, Inc. (HY) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFF and HY?
Across a 3-year window, the weekly returns of GFF and HY correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 944.2 %².
Within GFF's tracked universe of 26 assets, HY comes in at #16 by 3-year correlation. The last year tells two different stories: GFF led by 34.7 percentage points, +28.4% for GFF against -6.3% for HY.
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.
GFF vs HY: side by side
| GFF (Griffon Corporation) | HY (Hyster-Yale, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -6.3% |
| 5-year return | +396.8% | -30.4% |
| Volatility (ann.) | 38.7% | 45.8% |
| Beta vs S&P 500 | 1.14 | 1.17 |
| Max drawdown (3Y) | -27.9% | -66.4% |
| Market cap | $4.5B | $0.6B |
| P/E (trailing) | 21.1 | – |
| Dividend yield | 0.83% | 4.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GFF | HY |
|---|---|---|
| 2022 | +36.9% | -35.9% |
| 2023 | +84.0% | +153.4% |
| 2024 | +18.0% | -16.3% |
| 2025 | +4.4% | -39.5% |
| 2026 | +35.4% | +19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFF and HY good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GFF and HY?
The GFF/HY correlation stands at 0.53 on a 3-year window (1 year: 0.58, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is HY a good diversifier for GFF?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/gff-vs-hy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gff-vs-hy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GFF correlations · HY correlations
