HLLY vs WMS: Correlation
Holley Inc. (HLLY) and Advanced Drainage Systems, Inc. (WMS) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLLY and WMS?
Over the past 3 years, HLLY and WMS moved with a correlation of 0.52, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 1166.6 %².
By 3-year correlation, WMS places #5 of the 18 assets tracked against HLLY. Correlation aside, the last 12 months split them widely, with WMS ahead by 21.0 points (-25.4% versus -4.4%). One caveat on sizing: HLLY is 1.6 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 WMS: side by side
| HLLY (Holley Inc.) | WMS (Advanced Drainage Systems, Inc.) | |
|---|---|---|
| 1-year return | -25.4% | -4.4% |
| 5-year return | -74.8% | +22.1% |
| Volatility (ann.) | 60.1% | 37.1% |
| Beta vs S&P 500 | 1.33 | 1.31 |
| Max drawdown (3Y) | -70.2% | -45.8% |
| Market cap | $0.4B | $10.5B |
| P/E (trailing) | 33.0 | 23.6 |
| Dividend yield | 0.00% | 0.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLLY | WMS |
|---|---|---|
| 2022 | -83.7% | -39.5% |
| 2023 | +129.7% | +72.4% |
| 2024 | -38.0% | -17.5% |
| 2025 | +36.8% | +26.0% |
| 2026 | -28.1% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLLY and WMS good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLLY and WMS?
As of 2026-08-27, the correlation of weekly returns between HLLY and WMS is 0.52 over 3 years, 0.56 over 1 year and 0.32 over 5 years.
Is WMS a good diversifier for HLLY?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 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/hlly-vs-wms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlly-vs-wms/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLLY correlations · WMS correlations
