HLLY vs MG: Correlation
Holley Inc. (HLLY) and Mistras Group Inc (MG) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLLY and MG?
On 3 years of weekly data the HLLY/MG correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. The 5-year figure is 0.23, and annualized covariance runs at 1218.9 %².
Within HLLY's tracked universe of 18 assets, MG comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MG ahead by 125.1 points (-25.4% versus +99.7%). One caveat on sizing: HLLY is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HLLY vs MG: side by side
| HLLY (Holley Inc.) | MG (Mistras Group Inc) | |
|---|---|---|
| 1-year return | -25.4% | +99.7% |
| 5-year return | -74.8% | +87.3% |
| Volatility (ann.) | 60.1% | 39.7% |
| Beta vs S&P 500 | 1.33 | 0.84 |
| Max drawdown (3Y) | -70.2% | -40.8% |
| Market cap | $0.4B | $0.6B |
| P/E (trailing) | 33.0 | 22.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLLY | MG |
|---|---|---|
| 2022 | -83.7% | -33.6% |
| 2023 | +129.7% | +48.5% |
| 2024 | -38.0% | +23.8% |
| 2025 | +36.8% | +39.6% |
| 2026 | -28.1% | +52.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLLY and MG good diversifiers for each other?
To a limited degree. At 0.51 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 HLLY and MG?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.57 over the last year and 0.23 over 5 years.
Is MG a good diversifier for HLLY?
To a limited degree. At 0.51 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 0.51 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/hlly-vs-mg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlly-vs-mg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLLY correlations · MG correlations
