HII vs MDGL: Correlation
Measured on weekly returns over the past three years, Huntington Ingalls Industries (HII) and Madrigal Pharmaceuticals, Inc. (MDGL) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HII and MDGL?
On 3 years of weekly data the HII/MDGL correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.23). The 5-year figure is -0.05, and annualized covariance runs at -482.6 %².
Among the 28 assets we track against HII, MDGL sits near the bottom by co-movement, at rank #26. Correlation aside, the last 12 months split them widely, with MDGL ahead by 18.5 points (+9.4% versus +27.9%). Note the risk asymmetry: MDGL runs 1.7 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.
HII vs MDGL: side by side
| HII (Huntington Ingalls Industries) | MDGL (Madrigal Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +9.4% | +27.9% |
| 5-year return | +59.2% | +554.5% |
| Volatility (ann.) | 35.3% | 60.2% |
| Beta vs S&P 500 | 0.84 | 0.71 |
| Max drawdown (3Y) | -45.2% | -38.8% |
| Market cap | $11.7B | $12.6B |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 1.85% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HII | MDGL |
|---|---|---|
| 2022 | +26.3% | +242.5% |
| 2023 | +15.2% | -20.3% |
| 2024 | -25.7% | +33.4% |
| 2025 | +84.2% | +88.7% |
| 2026 | -11.9% | -6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HII and MDGL good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HII and MDGL?
As of 2026-08-27, the correlation of weekly returns between HII and MDGL is -0.23 over 3 years, -0.37 over 1 year and -0.05 over 5 years.
Is MDGL a good diversifier for HII?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HII correlations · MDGL correlations
