GIS vs HSY: Correlation
General Mills (GIS) and Hershey Company (The) (HSY) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIS and HSY?
Across a 3-year window, the weekly returns of GIS and HSY correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 223.6 %².
By 3-year correlation, HSY places #13 of the 38 assets tracked against GIS. The last year tells two different stories: HSY led by 15.6 percentage points, -12.8% for GIS against +2.8% for HSY. The rolling one-year correlation moved between 0.24 and 0.63 over the past three years, a moderate range.
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.
GIS vs HSY: side by side
| GIS (General Mills) | HSY (Hershey Company (The)) | |
|---|---|---|
| 1-year return | -12.8% | +2.8% |
| 5-year return | -14.6% | +16.5% |
| Volatility (ann.) | 20.6% | 25.6% |
| Beta vs S&P 500 | -0.05 | 0.03 |
| Max drawdown (3Y) | -53.4% | -31.2% |
| Market cap | $21.6B | $36.4B |
| P/E (trailing) | – | 25.3 |
| Dividend yield | 6.09% | 3.05% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | GIS | HSY |
|---|---|---|
| 2022 | +28.1% | +21.9% |
| 2023 | -20.0% | -17.9% |
| 2024 | +1.4% | -6.5% |
| 2025 | -23.7% | +11.0% |
| 2026 | -8.8% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIS and HSY good diversifiers for each other?
Reasonably. At 0.43, GIS and HSY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GIS and HSY?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.40 over the last year and 0.47 over 5 years.
Is HSY a good diversifier for GIS?
Reasonably. At 0.43, GIS and HSY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gis-vs-hsy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gis-vs-hsy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GIS correlations · HSY correlations
