HIPO vs ROOT: Correlation
Measured on weekly returns over the past three years, Hippo Holdings Inc. (HIPO) and Root, Inc. (ROOT) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIPO and ROOT?
Across a 3-year window, the weekly returns of HIPO and ROOT correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 4089.6 %².
In HIPO's tracked universe of 10 assets, ROOT sits right near the top at #3. The last year tells two different stories: HIPO led by 34.9 percentage points, -3.2% for HIPO against -38.1% for ROOT. Risk is not evenly split, since ROOT carries 2.0 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.
HIPO vs ROOT: side by side
| HIPO (Hippo Holdings Inc.) | ROOT (Root, Inc.) | |
|---|---|---|
| 1-year return | -3.2% | -38.1% |
| 5-year return | -73.4% | -52.1% |
| Volatility (ann.) | 64.1% | 127.9% |
| Beta vs S&P 500 | 1.59 | 1.45 |
| Max drawdown (3Y) | -39.6% | -75.7% |
| Market cap | $0.9B | $0.9B |
| P/E (trailing) | 7.0 | 16.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIPO | ROOT |
|---|---|---|
| 2022 | -80.8% | -92.0% |
| 2023 | -32.9% | +133.4% |
| 2024 | +193.5% | +592.7% |
| 2025 | +12.4% | -0.5% |
| 2026 | +8.4% | -23.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIPO and ROOT good diversifiers for each other?
Only partially. A correlation of 0.50 means HIPO and ROOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HIPO and ROOT?
As of 2026-08-27, the correlation of weekly returns between HIPO and ROOT is 0.50 over 3 years, 0.42 over 1 year and 0.46 over 5 years.
Is ROOT a good diversifier for HIPO?
Only partially. A correlation of 0.50 means HIPO and ROOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hipo-vs-root.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hipo-vs-root/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HIPO correlations · ROOT correlations
