HLIO vs STAA: Correlation
How closely do Helios Technologies, Inc. (HLIO) and STAAR Surgical Company (STAA) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and STAA?
Over the past 3 years, HLIO and STAA moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 1111.0 %².
Within HLIO's tracked universe of 18 assets, STAA comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HLIO outperformed by 56.4 percentage points (+37.8% for HLIO against -18.6% for STAA).
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 STAA: side by side
| HLIO (Helios Technologies, Inc.) | STAA (STAAR Surgical Company) | |
|---|---|---|
| 1-year return | +37.8% | -18.6% |
| 5-year return | -5.7% | -85.0% |
| Volatility (ann.) | 42.8% | 61.9% |
| Beta vs S&P 500 | 1.18 | 0.90 |
| Max drawdown (3Y) | -55.9% | -71.1% |
| Market cap | $2.5B | $1.1B |
| P/E (trailing) | 34.9 | 279.9 |
| Dividend yield | 0.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIO | STAA |
|---|---|---|
| 2022 | -48.0% | -46.8% |
| 2023 | -16.2% | -35.7% |
| 2024 | -0.8% | -22.2% |
| 2025 | +21.0% | -4.9% |
| 2026 | +39.8% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and STAA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLIO and STAA?
As of 2026-08-27, the correlation of weekly returns between HLIO and STAA is 0.42 over 3 years, 0.11 over 1 year and 0.39 over 5 years.
Is STAA a good diversifier for HLIO?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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.
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Related comparisons
Hubs: HLIO correlations · STAA correlations
