HLP vs MI: Correlation
How closely do Hongli Group Inc. - Class A (HLP) and NFT Limited Class A (MI) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLP and MI?
Over the past 3 years, HLP and MI moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.26). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -146579.9 %².
Among the 15 assets we track against HLP, MI sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months HLP outperformed by 100.0 percentage points (+89.7% for HLP against -10.3% for MI). One caveat on sizing: MI is 34.9 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.
HLP vs MI: side by side
| HLP (Hongli Group Inc. - Class A) | MI (NFT Limited Class A) | |
|---|---|---|
| 1-year return | +89.7% | -10.3% |
| 5-year return | n/a | -99.5% |
| Volatility (ann.) | 127.2% | 4443.9% |
| Beta vs S&P 500 | 0.02 | 8.21 |
| Max drawdown (3Y) | -91.9% | -98.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | 43.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLP | MI |
|---|---|---|
| 2022 | – | -86.4% |
| 2023 | – | -66.2% |
| 2024 | -22.0% | -61.9% |
| 2025 | -20.6% | +13.3% |
| 2026 | +24.0% | -28.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLP and MI good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between HLP and MI?
The HLP/MI correlation stands at -0.26 on a 3-year window (1 year: -0.45, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MI a good diversifier for HLP?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/hlp-vs-mi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlp-vs-mi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLP correlations · MI correlations
