HLIO vs HLMN: Correlation
Measured on weekly returns over the past three years, Helios Technologies, Inc. (HLIO) and Hillman Solutions Corp. (HLMN) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and HLMN?
Across a 3-year window, the weekly returns of HLIO and HLMN correlate at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.59 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 930.4 %².
In HLIO's tracked universe of 18 assets, HLMN sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months HLIO outperformed by 59.1 percentage points (+37.8% for HLIO against -21.3% for HLMN).
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.
HLIO vs HLMN: side by side
| HLIO (Helios Technologies, Inc.) | HLMN (Hillman Solutions Corp.) | |
|---|---|---|
| 1-year return | +37.8% | -21.3% |
| 5-year return | -5.7% | -33.4% |
| Volatility (ann.) | 42.8% | 36.7% |
| Beta vs S&P 500 | 1.18 | 1.01 |
| Max drawdown (3Y) | -55.9% | -42.3% |
| Market cap | $2.5B | $1.5B |
| P/E (trailing) | 34.9 | 39.2 |
| Dividend yield | 0.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIO | HLMN |
|---|---|---|
| 2022 | -48.0% | -32.9% |
| 2023 | -16.2% | +27.7% |
| 2024 | -0.8% | +5.8% |
| 2025 | +21.0% | -11.1% |
| 2026 | +39.8% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and HLMN good diversifiers for each other?
To a limited degree. At 0.59 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 HLIO and HLMN?
The HLIO/HLMN correlation stands at 0.59 on a 3-year window (1 year: 0.48, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is HLMN a good diversifier for HLIO?
To a limited degree. At 0.59 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 0.59 mean?
On the −1 to +1 scale, 0.59 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/hlio-vs-hlmn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlio-vs-hlmn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLIO correlations · HLMN correlations
