HLIO vs MATV: Correlation
Measured on weekly returns over the past three years, Helios Technologies, Inc. (HLIO) and Mativ Holdings, Inc. (MATV) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and MATV?
On 3 years of weekly data the HLIO/MATV correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.54 over 3. The 5-year figure is 0.47, and annualized covariance runs at 1628.9 %².
Among the 18 assets we track against HLIO, MATV ranks #6 by 3-year correlation. The last year tells two different stories: HLIO led by 35.1 percentage points, +37.8% for HLIO against +2.7% for MATV. Note the risk asymmetry: MATV runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MATV: side by side
| HLIO (Helios Technologies, Inc.) | MATV (Mativ Holdings, Inc.) | |
|---|---|---|
| 1-year return | +37.8% | +2.7% |
| 5-year return | -5.7% | -59.1% |
| Volatility (ann.) | 42.8% | 70.0% |
| Beta vs S&P 500 | 1.18 | 1.74 |
| Max drawdown (3Y) | -55.9% | -75.3% |
| Market cap | $2.5B | $0.7B |
| P/E (trailing) | 34.9 | 7.5 |
| Dividend yield | 0.56% | 3.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIO | MATV |
|---|---|---|
| 2022 | -48.0% | -25.3% |
| 2023 | -16.2% | -22.7% |
| 2024 | -0.8% | -27.1% |
| 2025 | +21.0% | +17.3% |
| 2026 | +39.8% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and MATV good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLIO and MATV?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.45 over the last year and 0.47 over 5 years.
Is MATV a good diversifier for HLIO?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlio-vs-matv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlio-vs-matv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLIO correlations · MATV correlations
