GPK vs HRL: Correlation
Measured on weekly returns over the past three years, Graphic Packaging Holding Company (GPK) and Hormel Foods (HRL) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPK and HRL?
On 3 years of weekly data the GPK/HRL correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.39 over 3. The 5-year figure is 0.34, and annualized covariance runs at 309.9 %².
Among the 13 assets we track against GPK, HRL ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HRL ahead by 24.9 points (-47.7% versus -22.8%).
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.
GPK vs HRL: side by side
| GPK (Graphic Packaging Holding Company) | HRL (Hormel Foods) | |
|---|---|---|
| 1-year return | -47.7% | -22.8% |
| 5-year return | -39.0% | -44.3% |
| Volatility (ann.) | 30.7% | 26.1% |
| Beta vs S&P 500 | 0.71 | 0.07 |
| Max drawdown (3Y) | -69.7% | -44.5% |
| Market cap | $3.4B | – |
| P/E (trailing) | 17.7 | 28.0 |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | GPK | HRL |
|---|---|---|
| 2022 | +15.9% | -4.7% |
| 2023 | +12.7% | -27.5% |
| 2024 | +11.7% | +1.2% |
| 2025 | -43.3% | -21.3% |
| 2026 | -23.1% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPK and HRL good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GPK and HRL?
As of 2026-08-27, the correlation of weekly returns between GPK and HRL is 0.39 over 3 years, 0.41 over 1 year and 0.34 over 5 years.
Is HRL a good diversifier for GPK?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/gpk-vs-hrl.json
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Related comparisons
Hubs: GPK correlations · HRL correlations
