HCSG vs NOC: Correlation
Healthcare Services Group, Inc. (HCSG) and Northrop Grumman (NOC) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCSG and NOC?
Across a 3-year window, the weekly returns of HCSG and NOC correlate at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -290.5 %².
Out of 14 assets tracked against HCSG, NOC lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months HCSG outperformed by 52.8 percentage points (+47.2% for HCSG against -5.6% for NOC). Note the risk asymmetry: HCSG runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HCSG vs NOC: side by side
| HCSG (Healthcare Services Group, Inc.) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | +47.2% | -5.6% |
| 5-year return | -6.5% | +60.1% |
| Volatility (ann.) | 44.6% | 26.7% |
| Beta vs S&P 500 | 0.90 | 0.24 |
| Max drawdown (3Y) | -27.4% | -35.1% |
| Market cap | $1.6B | $77.4B |
| P/E (trailing) | 13.4 | 17.5 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HCSG | NOC |
|---|---|---|
| 2022 | -28.7% | +43.0% |
| 2023 | -13.6% | -12.8% |
| 2024 | +12.1% | +1.9% |
| 2025 | +64.5% | +23.6% |
| 2026 | +20.0% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCSG and NOC good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HCSG and NOC?
As of 2026-08-27, the correlation of weekly returns between HCSG and NOC is -0.24 over 3 years, -0.28 over 1 year and -0.14 over 5 years.
Is NOC a good diversifier for HCSG?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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
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Related comparisons
Hubs: HCSG correlations · NOC correlations
