HLMN vs NGVT: Correlation
How closely do Hillman Solutions Corp. (HLMN) and Ingevity Corporation (NGVT) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLMN and NGVT?
On 3 years of weekly data the HLMN/NGVT correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.67 over 3. The 5-year figure is 0.58, and annualized covariance runs at 1207.4 %².
Few assets follow HLMN as closely as NGVT, which ranks #1 of 19 tracked partners. The last year tells two different stories: NGVT led by 42.8 percentage points, -21.3% for HLMN against +21.5% for NGVT.
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 NGVT: side by side
| HLMN (Hillman Solutions Corp.) | NGVT (Ingevity Corporation) | |
|---|---|---|
| 1-year return | -21.3% | +21.5% |
| 5-year return | -33.4% | -14.1% |
| Volatility (ann.) | 36.7% | 48.8% |
| Beta vs S&P 500 | 1.01 | 1.39 |
| Max drawdown (3Y) | -42.3% | -45.8% |
| Market cap | $1.5B | $2.4B |
| P/E (trailing) | 39.2 | 98.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLMN | NGVT |
|---|---|---|
| 2022 | -32.9% | -1.8% |
| 2023 | +27.7% | -33.0% |
| 2024 | +5.8% | -13.7% |
| 2025 | -11.1% | +45.2% |
| 2026 | -9.4% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLMN and NGVT good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLMN and NGVT?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.68 over the last year and 0.58 over 5 years.
Is NGVT a good diversifier for HLMN?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlmn-vs-ngvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlmn-vs-ngvt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLMN correlations · NGVT correlations
