HIG vs NXPL: Correlation
Measured on weekly returns over the past three years, Hartford (The) (HIG) and NextPlat Corp (NXPL) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and NXPL?
Over the past 3 years, HIG and NXPL moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -307.0 %².
Within HIG's tracked universe of 49 assets, NXPL comes in at #44 by 3-year correlation. The trailing year gives NXPL the advantage: +5.4% versus +19.5%, a 14.1-point spread. Risk is not evenly split, since NXPL carries 3.7 times the volatility of the other side.
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.
HIG vs NXPL: side by side
| HIG (Hartford (The)) | NXPL (NextPlat Corp) | |
|---|---|---|
| 1-year return | +5.4% | +19.5% |
| 5-year return | +127.4% | -85.7% |
| Volatility (ann.) | 19.5% | 71.9% |
| Beta vs S&P 500 | 0.39 | 1.10 |
| Max drawdown (3Y) | -13.7% | -84.4% |
| Market cap | $37.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 1.66% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HIG | NXPL |
|---|---|---|
| 2022 | +12.3% | -61.1% |
| 2023 | +8.5% | +31.0% |
| 2024 | +38.5% | -34.5% |
| 2025 | +28.1% | -50.9% |
| 2026 | +0.9% | +75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIG and NXPL good diversifiers for each other?
Yes. With a correlation of -0.22, HIG and NXPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HIG and NXPL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.46 over the last year and -0.06 over 5 years.
Is NXPL a good diversifier for HIG?
Yes. With a correlation of -0.22, HIG and NXPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/hig-vs-nxpl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hig-vs-nxpl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIG correlations · NXPL correlations
