HGV vs TNL: Correlation
Hilton Grand Vacations Inc. (HGV) and Travel Leisure Co. (TNL) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HGV and TNL?
Across a 3-year window, the weekly returns of HGV and TNL correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 882.0 %².
TNL is one of the assets that tracks HGV most closely: it ranks #1 out of the 37 assets we track against HGV. Correlation aside, the last 12 months split them widely, with TNL ahead by 26.4 points (-7.2% versus +19.2%).
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.
HGV vs TNL: side by side
| HGV (Hilton Grand Vacations Inc.) | TNL (Travel Leisure Co.) | |
|---|---|---|
| 1-year return | -7.2% | +19.2% |
| 5-year return | +1.7% | +59.9% |
| Volatility (ann.) | 36.3% | 30.1% |
| Beta vs S&P 500 | 1.38 | 1.19 |
| Max drawdown (3Y) | -34.6% | -32.2% |
| Market cap | $3.4B | $4.4B |
| P/E (trailing) | 25.6 | 19.9 |
| Dividend yield | 0.00% | 3.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HGV | TNL |
|---|---|---|
| 2022 | -26.0% | -31.7% |
| 2023 | +4.3% | +12.5% |
| 2024 | -3.1% | +34.8% |
| 2025 | +14.9% | +45.5% |
| 2026 | -2.1% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HGV and TNL good diversifiers for each other?
No. With a correlation of 0.81, HGV and TNL move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HGV and TNL?
As of 2026-08-27, the correlation of weekly returns between HGV and TNL is 0.81 over 3 years, 0.74 over 1 year and 0.82 over 5 years.
Is TNL a good diversifier for HGV?
No. With a correlation of 0.81, HGV and TNL move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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/hgv-vs-tnl.json
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Related comparisons
Hubs: HGV correlations · TNL correlations
