HLMN vs MATV: Correlation
Hillman Solutions Corp. (HLMN) and Mativ Holdings, Inc. (MATV) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLMN and MATV?
Over the past 3 years, HLMN and MATV moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1643.2 %².
Among the 19 assets we track against HLMN, MATV ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MATV ahead by 24.0 points (-21.3% versus +2.7%). Note the risk asymmetry: MATV runs 1.9 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.
HLMN vs MATV: side by side
| HLMN (Hillman Solutions Corp.) | MATV (Mativ Holdings, Inc.) | |
|---|---|---|
| 1-year return | -21.3% | +2.7% |
| 5-year return | -33.4% | -59.1% |
| Volatility (ann.) | 36.7% | 70.0% |
| Beta vs S&P 500 | 1.01 | 1.74 |
| Max drawdown (3Y) | -42.3% | -75.3% |
| Market cap | $1.5B | $0.7B |
| P/E (trailing) | 39.2 | 7.5 |
| Dividend yield | 0.00% | 3.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLMN | MATV |
|---|---|---|
| 2022 | -32.9% | -25.3% |
| 2023 | +27.7% | -22.7% |
| 2024 | +5.8% | -27.1% |
| 2025 | -11.1% | +17.3% |
| 2026 | -9.4% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLMN and MATV good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLMN and MATV?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.67 over the last year and 0.51 over 5 years.
Is MATV a good diversifier for HLMN?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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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Hubs: HLMN correlations · MATV correlations
