GPGI vs HLMN: Correlation
How closely do GPGI, Inc. (GPGI) and Hillman Solutions Corp. (HLMN) 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 GPGI and HLMN?
Over the past 3 years, GPGI and HLMN moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 870.4 %².
Few assets follow GPGI as closely as HLMN, which ranks #2 of 13 tracked partners. Over the last 12 months HLMN came out ahead by 11.9 percentage points (-33.2% against -21.3%).
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.
GPGI vs HLMN: side by side
| GPGI (GPGI, Inc.) | HLMN (Hillman Solutions Corp.) | |
|---|---|---|
| 1-year return | -33.2% | -21.3% |
| 5-year return | +66.0% | -33.4% |
| Volatility (ann.) | 53.8% | 36.7% |
| Beta vs S&P 500 | 1.14 | 1.01 |
| Max drawdown (3Y) | -55.7% | -42.3% |
| Market cap | $3.8B | $1.5B |
| P/E (trailing) | – | 39.2 |
| Dividend yield | 0.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPGI | HLMN |
|---|---|---|
| 2022 | -40.2% | -32.9% |
| 2023 | +10.0% | +27.7% |
| 2024 | +197.3% | +5.8% |
| 2025 | +51.4% | -11.1% |
| 2026 | -31.2% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPGI and HLMN good diversifiers for each other?
Reasonably. At 0.44, GPGI and HLMN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GPGI and HLMN?
As of 2026-08-27, the correlation of weekly returns between GPGI and HLMN is 0.44 over 3 years, 0.45 over 1 year and 0.31 over 5 years.
Is HLMN a good diversifier for GPGI?
Reasonably. At 0.44, GPGI and HLMN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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
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Related comparisons
Hubs: GPGI correlations · HLMN correlations
