GXO vs HDSN: Correlation
GXO Logistics, Inc. (GXO) and Hudson Technologies, Inc. (HDSN) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GXO and HDSN?
Across a 3-year window, the weekly returns of GXO and HDSN correlate at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.40 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 617.4 %².
Within GXO's tracked universe of 16 assets, HDSN comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GXO outperformed by 36.4 percentage points (-10.1% for GXO against -46.5% for HDSN).
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.
GXO vs HDSN: side by side
| GXO (GXO Logistics, Inc.) | HDSN (Hudson Technologies, Inc.) | |
|---|---|---|
| 1-year return | -10.1% | -46.5% |
| 5-year return | -43.5% | +68.6% |
| Volatility (ann.) | 37.5% | 41.6% |
| Beta vs S&P 500 | 1.06 | 0.74 |
| Max drawdown (3Y) | -51.6% | -67.6% |
| Market cap | $5.5B | $0.2B |
| P/E (trailing) | 42.5 | 24.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GXO | HDSN |
|---|---|---|
| 2022 | -53.0% | +127.9% |
| 2023 | +43.3% | +33.3% |
| 2024 | -28.9% | -58.6% |
| 2025 | +21.0% | +22.8% |
| 2026 | -8.9% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GXO and HDSN good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GXO and HDSN?
The GXO/HDSN correlation stands at 0.40 on a 3-year window (1 year: 0.52, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is HDSN a good diversifier for GXO?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/gxo-vs-hdsn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gxo-vs-hdsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GXO correlations · HDSN correlations
