HCA vs HIG: Correlation
How closely do HCA Healthcare (HCA) and Hartford (The) (HIG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCA and HIG?
Over the past 3 years, HCA and HIG moved with a correlation of 0.43, which is moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.43). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 223.2 %².
Within HCA's tracked universe of 32 assets, HIG comes in at #5 by 3-year correlation. Their 12-month results are close: +4.2% for HCA against +5.4% for HIG. The rolling one-year correlation moved between 0.25 and 0.74 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.
HCA vs HIG: side by side
| HCA (HCA Healthcare) | HIG (Hartford (The)) | |
|---|---|---|
| 1-year return | +4.2% | +5.4% |
| 5-year return | +72.5% | +127.4% |
| Volatility (ann.) | 26.9% | 19.5% |
| Beta vs S&P 500 | 0.42 | 0.39 |
| Max drawdown (3Y) | -33.6% | -13.7% |
| Market cap | $90.8B | $37.3B |
| P/E (trailing) | 14.1 | 9.7 |
| Dividend yield | 0.70% | 1.66% |
| Sector / category | Health Care | Financials |
Year-by-year returns
| Year | HCA | HIG |
|---|---|---|
| 2022 | -5.6% | +12.3% |
| 2023 | +13.8% | +8.5% |
| 2024 | +11.8% | +38.5% |
| 2025 | +56.7% | +28.1% |
| 2026 | -9.9% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCA and HIG good diversifiers for each other?
Reasonably. At 0.43, HCA and HIG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HCA and HIG?
The HCA/HIG correlation stands at 0.43 on a 3-year window (1 year: 0.26, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is HIG a good diversifier for HCA?
Reasonably. At 0.43, HCA and HIG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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.
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Related comparisons
Hubs: HCA correlations · HIG correlations
