HLNE vs STGW: Correlation
Measured on weekly returns over the past three years, Hamilton Lane Incorporated (HLNE) and Stagwell Inc. (STGW) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLNE and STGW?
On 3 years of weekly data the HLNE/STGW correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.47). The 5-year figure is 0.48, and annualized covariance runs at 860.1 %².
Among the 18 assets we track against HLNE, STGW ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STGW ahead by 88.5 points (-29.4% versus +59.1%).
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.
HLNE vs STGW: side by side
| HLNE (Hamilton Lane Incorporated) | STGW (Stagwell Inc.) | |
|---|---|---|
| 1-year return | -29.4% | +59.1% |
| 5-year return | +32.3% | +30.4% |
| Volatility (ann.) | 37.2% | 49.1% |
| Beta vs S&P 500 | 1.23 | 1.28 |
| Max drawdown (3Y) | -62.3% | -48.6% |
| Market cap | $5.9B | $2.2B |
| P/E (trailing) | 16.0 | 148.0 |
| Dividend yield | 2.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLNE | STGW |
|---|---|---|
| 2022 | -37.0% | -28.4% |
| 2023 | +81.4% | +6.8% |
| 2024 | +32.4% | -0.8% |
| 2025 | -7.9% | -25.7% |
| 2026 | -19.4% | +81.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLNE and STGW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLNE and STGW?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.36 over the last year and 0.48 over 5 years.
Is STGW a good diversifier for HLNE?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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
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Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlne-vs-stgw/)
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Related comparisons
Hubs: HLNE correlations · STGW correlations
