HLI vs PJT: Correlation
How closely do Houlihan Lokey, Inc. (HLI) and PJT Partners Inc. (PJT) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLI and PJT?
Over the past 3 years, HLI and PJT moved with a correlation of 0.77, which is strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 575.2 %².
Within HLI's tracked universe of 15 assets, PJT comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PJT ahead by 32.5 points (-33.7% versus -1.2%).
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.
HLI vs PJT: side by side
| HLI (Houlihan Lokey, Inc.) | PJT (PJT Partners Inc.) | |
|---|---|---|
| 1-year return | -33.7% | -1.2% |
| 5-year return | +58.6% | +143.7% |
| Volatility (ann.) | 25.5% | 29.4% |
| Beta vs S&P 500 | 0.95 | 1.08 |
| Max drawdown (3Y) | -40.3% | -32.5% |
| Market cap | $9.1B | $7.6B |
| P/E (trailing) | 21.8 | 24.3 |
| Dividend yield | 1.93% | 0.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLI | PJT |
|---|---|---|
| 2022 | -13.9% | +0.9% |
| 2023 | +40.7% | +40.0% |
| 2024 | +47.0% | +56.2% |
| 2025 | +1.6% | +6.6% |
| 2026 | -24.3% | +7.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLI and PJT good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HLI and PJT?
As of 2026-08-27, the correlation of weekly returns between HLI and PJT is 0.77 over 3 years, 0.73 over 1 year and 0.67 over 5 years.
Is PJT a good diversifier for HLI?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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/hli-vs-pjt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hli-vs-pjt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLI correlations · PJT correlations
