HIG vs RMCF: Correlation
Measured on weekly returns over the past three years, Hartford (The) (HIG) and Rocky Mountain Chocolate Factory, Inc. (RMCF) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIG and RMCF?
On 3 years of weekly data the HIG/RMCF correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.21 over 3. The 5-year figure is -0.13, and annualized covariance runs at -285.5 %².
Within HIG's tracked universe of 49 assets, RMCF comes in at #42 by 3-year correlation. The last year tells two different stories: HIG led by 25.3 percentage points, +5.4% for HIG against -19.9% for RMCF. One caveat on sizing: RMCF is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RMCF: side by side
| HIG (Hartford (The)) | RMCF (Rocky Mountain Chocolate Factory, Inc.) | |
|---|---|---|
| 1-year return | +5.4% | -19.9% |
| 5-year return | +127.4% | -84.3% |
| Volatility (ann.) | 19.5% | 68.5% |
| Beta vs S&P 500 | 0.39 | 0.77 |
| Max drawdown (3Y) | -13.7% | -87.0% |
| 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 | RMCF |
|---|---|---|
| 2022 | +12.3% | -27.4% |
| 2023 | +8.5% | -19.3% |
| 2024 | +38.5% | -47.2% |
| 2025 | +28.1% | -21.8% |
| 2026 | +0.9% | -38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIG and RMCF good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between HIG and RMCF?
As of 2026-08-27, the correlation of weekly returns between HIG and RMCF is -0.21 over 3 years, -0.31 over 1 year and -0.13 over 5 years.
Is RMCF a good diversifier for HIG?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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-rmcf.json
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Related comparisons
Hubs: HIG correlations · RMCF correlations
