HLP vs PNTG: Correlation
Hongli Group Inc. - Class A (HLP) and The Pennant Group, Inc. (PNTG) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLP and PNTG?
On 3 years of weekly data the HLP/PNTG correlation comes out at 0.26, weak. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 1140.5 %².
PNTG is one of the assets that tracks HLP most closely: it ranks #3 out of the 15 assets we track against HLP. The last year tells two different stories: HLP led by 35.3 percentage points, +89.7% for HLP against +54.4% for PNTG. One caveat on sizing: HLP is 3.7 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 PNTG: side by side
| HLP (Hongli Group Inc. - Class A) | PNTG (The Pennant Group, Inc.) | |
|---|---|---|
| 1-year return | +89.7% | +54.4% |
| 5-year return | n/a | +30.0% |
| Volatility (ann.) | 127.2% | 34.4% |
| Beta vs S&P 500 | 0.02 | 0.71 |
| Max drawdown (3Y) | -91.9% | -40.2% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | 43.0 | 42.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLP | PNTG |
|---|---|---|
| 2022 | – | -52.4% |
| 2023 | – | +26.8% |
| 2024 | -22.0% | +90.5% |
| 2025 | -20.6% | +6.1% |
| 2026 | +24.0% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLP and PNTG good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HLP and PNTG?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.24 over the last year and n/a over 5 years.
Is PNTG a good diversifier for HLP?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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-pntg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlp-vs-pntg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLP correlations · PNTG correlations
