HG vs HRTG: Correlation
Hamilton Insurance Group, Ltd. Class B (HG) and Heritage Insurance Holdings, Inc. (HRTG) 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 HG and HRTG?
On 3 years of weekly data the HG/HRTG correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.40 over 3. The 5-year figure is n/a, and annualized covariance runs at 830.2 %².
Within HG's tracked universe of 12 assets, HRTG comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +55.6% against +53.6%. Note the risk asymmetry: HRTG runs 2.4 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.
HG vs HRTG: side by side
| HG (Hamilton Insurance Group, Ltd. Class B) | HRTG (Heritage Insurance Holdings, Inc.) | |
|---|---|---|
| 1-year return | +55.6% | +53.6% |
| 5-year return | n/a | +422.5% |
| Volatility (ann.) | 30.1% | 71.1% |
| Beta vs S&P 500 | 0.12 | 0.71 |
| Max drawdown (3Y) | -21.1% | -43.9% |
| Market cap | $3.5B | $1.0B |
| P/E (trailing) | 6.2 | 4.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HG | HRTG |
|---|---|---|
| 2022 | – | -68.6% |
| 2023 | – | +262.2% |
| 2024 | +27.3% | +85.6% |
| 2025 | +46.6% | +141.8% |
| 2026 | +35.3% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HG and HRTG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HG and HRTG?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.50 over the last year and n/a over 5 years.
Is HRTG a good diversifier for HG?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hg-vs-hrtg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hg-vs-hrtg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HG correlations · HRTG correlations
