HGBL vs KMPR: Correlation
Heritage Global Inc. (HGBL) and Kemper Corporation (KMPR) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HGBL and KMPR?
On 3 years of weekly data the HGBL/KMPR correlation comes out at 0.29, weak. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.20, and annualized covariance runs at 319.6 %².
By 3-year correlation, KMPR places #5 of the 10 assets tracked against HGBL. The trailing year gives HGBL the advantage: -33.7% versus -46.2%, a 12.5-point spread.
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.
HGBL vs KMPR: side by side
| HGBL (Heritage Global Inc.) | KMPR (Kemper Corporation) | |
|---|---|---|
| 1-year return | -33.7% | -46.2% |
| 5-year return | -41.3% | -53.7% |
| Volatility (ann.) | 34.6% | 32.1% |
| Beta vs S&P 500 | 0.08 | 0.61 |
| Max drawdown (3Y) | -70.7% | -66.8% |
| Market cap | – | $1.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 4.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HGBL | KMPR |
|---|---|---|
| 2022 | +25.7% | -14.2% |
| 2023 | +18.3% | +1.5% |
| 2024 | -33.5% | +39.2% |
| 2025 | -33.0% | -37.5% |
| 2026 | +3.2% | -29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HGBL and KMPR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HGBL and KMPR?
As of 2026-08-27, the correlation of weekly returns between HGBL and KMPR is 0.29 over 3 years, 0.34 over 1 year and 0.20 over 5 years.
Is KMPR a good diversifier for HGBL?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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/hgbl-vs-kmpr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hgbl-vs-kmpr/)
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Related comparisons
Hubs: HGBL correlations · KMPR correlations
