HLIT vs RVT: Correlation
How closely do Harmonic Inc. (HLIT) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIT and RVT?
Over the past 3 years, HLIT and RVT moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 428.8 %².
Within HLIT's tracked universe of 11 assets, RVT comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +29.4% for HLIT and +27.4% for RVT. Risk is not evenly split, since HLIT carries 2.5 times the volatility of the other side.
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.
HLIT vs RVT: side by side
| HLIT (Harmonic Inc.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +29.4% | +27.4% |
| 5-year return | +34.2% | +53.9% |
| Volatility (ann.) | 46.9% | 19.1% |
| Beta vs S&P 500 | 1.41 | 0.99 |
| Max drawdown (3Y) | -44.3% | -23.5% |
| Market cap | $1.3B | $2.3B |
| P/E (trailing) | 51.2 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIT | RVT |
|---|---|---|
| 2022 | +11.4% | -26.3% |
| 2023 | -0.5% | +18.8% |
| 2024 | +1.5% | +17.9% |
| 2025 | -25.2% | +11.5% |
| 2026 | +24.2% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and RVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLIT and RVT?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.55 over the last year and 0.42 over 5 years.
Is RVT a good diversifier for HLIT?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: HLIT correlations · RVT correlations
