HCI vs ORI: Correlation
Measured on weekly returns over the past three years, HCI Group, Inc. (HCI) and Old Republic International Corporation (ORI) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCI and ORI?
Over the past 3 years, HCI and ORI moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 305.4 %².
Few assets follow HCI as closely as ORI, which ranks #2 of 10 tracked partners. Neither side won the trailing year by much: +15.2% against +15.0%. One caveat on sizing: HCI is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HCI vs ORI: side by side
| HCI (HCI Group, Inc.) | ORI (Old Republic International Corporation) | |
|---|---|---|
| 1-year return | +15.2% | +15.0% |
| 5-year return | +86.4% | +137.4% |
| Volatility (ann.) | 35.9% | 21.1% |
| Beta vs S&P 500 | 0.62 | 0.28 |
| Max drawdown (3Y) | -28.3% | -16.2% |
| Market cap | $2.3B | $10.2B |
| P/E (trailing) | 8.1 | 9.3 |
| Dividend yield | 0.86% | 2.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCI | ORI |
|---|---|---|
| 2022 | -51.2% | +6.7% |
| 2023 | +126.8% | +26.3% |
| 2024 | +35.5% | +27.1% |
| 2025 | +66.3% | +37.5% |
| 2026 | -1.8% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCI and ORI 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 HCI and ORI?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.45 over the last year and 0.29 over 5 years.
Is ORI a good diversifier for HCI?
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/hci-vs-ori.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hci-vs-ori/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HCI correlations · ORI correlations
