HERZ vs TRUG: Correlation
Measured on weekly returns over the past three years, Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) and TruGolf Holdings, Inc. (TRUG) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HERZ and TRUG?
Across a 3-year window, the weekly returns of HERZ and TRUG correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.25 over 3 years. Stretching to 5 years gives -0.22, with an annualized covariance of -1016.1 %².
TRUG is close to the least connected end of HERZ's tracked universe, ranking #15 of 19. Correlation aside, the last 12 months split them widely, with HERZ ahead by 120.6 points (+22.0% versus -98.6%). Note the risk asymmetry: TRUG runs 3.2 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.
HERZ vs TRUG: side by side
| HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | TRUG (TruGolf Holdings, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | -98.6% |
| 5-year return | +1.5% | -100.0% |
| Volatility (ann.) | 35.4% | 114.0% |
| Beta vs S&P 500 | 0.10 | 0.84 |
| Max drawdown (3Y) | -41.6% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 80.0 | – |
| Dividend yield | 57.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HERZ | TRUG |
|---|---|---|
| 2022 | -20.4% | +8.1% |
| 2023 | -13.6% | +9.7% |
| 2024 | +2.9% | -94.2% |
| 2025 | +89.3% | -97.8% |
| 2026 | -24.3% | -91.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HERZ and TRUG good diversifiers for each other?
Yes. With a correlation of -0.25, HERZ and TRUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HERZ and TRUG?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.48 over the last year and -0.22 over 5 years.
Is TRUG a good diversifier for HERZ?
Yes. With a correlation of -0.25, HERZ and TRUG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: HERZ correlations · TRUG correlations
