HLIO vs IT: Correlation
How closely do Helios Technologies, Inc. (HLIO) and Gartner (IT) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and IT?
On 3 years of weekly data the HLIO/IT correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.06, and annualized covariance runs at -424.5 %².
IT is close to the least connected end of HLIO's tracked universe, ranking #15 of 18. The last year tells two different stories: HLIO led by 58.0 percentage points, +37.8% for HLIO against -20.2% for IT.
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 IT: side by side
| HLIO (Helios Technologies, Inc.) | IT (Gartner) | |
|---|---|---|
| 1-year return | +37.8% | -20.2% |
| 5-year return | -5.7% | -36.0% |
| Volatility (ann.) | 42.8% | 40.6% |
| Beta vs S&P 500 | 1.18 | 0.92 |
| Max drawdown (3Y) | -55.9% | -77.2% |
| Market cap | $2.5B | $12.4B |
| P/E (trailing) | 34.9 | 17.4 |
| Dividend yield | 0.56% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | HLIO | IT |
|---|---|---|
| 2022 | -48.0% | +0.5% |
| 2023 | -16.2% | +34.2% |
| 2024 | -0.8% | +7.4% |
| 2025 | +21.0% | -47.9% |
| 2026 | +39.8% | -22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and IT good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between HLIO and IT?
As of 2026-08-27, the correlation of weekly returns between HLIO and IT is -0.24 over 3 years, -0.22 over 1 year and -0.06 over 5 years.
Is IT a good diversifier for HLIO?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlio-vs-it.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlio-vs-it/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLIO correlations · IT correlations
