HKIT vs SNA: Correlation
How closely do Hitek Global Inc. - Class A (HKIT) and Snap-on (SNA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HKIT and SNA?
On 3 years of weekly data the HKIT/SNA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.23 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -1130.4 %².
SNA is close to the least connected end of HKIT's tracked universe, ranking #11 of 14. Their recent paths diverged sharply: over the last 12 months SNA outperformed by 123.0 percentage points (-99.9% for HKIT against +23.1% for SNA). Risk is not evenly split, since HKIT carries 10.9 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.
HKIT vs SNA: side by side
| HKIT (Hitek Global Inc. - Class A) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | -99.9% | +23.1% |
| 5-year return | n/a | +99.6% |
| Volatility (ann.) | 233.1% | 21.3% |
| Beta vs S&P 500 | 1.70 | 0.70 |
| Max drawdown (3Y) | -100.0% | -20.8% |
| Market cap | – | $20.5B |
| P/E (trailing) | 0.0 | 20.2 |
| Dividend yield | 0.00% | 2.38% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HKIT | SNA |
|---|---|---|
| 2022 | – | +8.9% |
| 2023 | – | +29.7% |
| 2024 | +36.2% | +20.7% |
| 2025 | +55.9% | +4.3% |
| 2026 | -100.0% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HKIT and SNA good diversifiers for each other?
Yes. With a correlation of -0.23, HKIT and SNA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HKIT and SNA?
As of 2026-08-27, the correlation of weekly returns between HKIT and SNA is -0.23 over 3 years, -0.09 over 1 year and n/a over 5 years.
Is SNA a good diversifier for HKIT?
Yes. With a correlation of -0.23, HKIT and SNA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/hkit-vs-sna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hkit-vs-sna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HKIT correlations · SNA correlations
