HNI vs THO: Correlation
How closely do HNI Corporation (HNI) and Thor Industries, Inc. (THO) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNI and THO?
Over the past 3 years, HNI and THO moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 808.6 %².
In HNI's tracked universe of 22 assets, THO sits right near the top at #3. The last year tells two different stories: HNI led by 43.5 percentage points, +14.3% for HNI against -29.2% for THO.
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.
HNI vs THO: side by side
| HNI (HNI Corporation) | THO (Thor Industries, Inc.) | |
|---|---|---|
| 1-year return | +14.3% | -29.2% |
| 5-year return | +55.8% | -26.9% |
| Volatility (ann.) | 34.5% | 37.1% |
| Beta vs S&P 500 | 0.87 | 1.19 |
| Max drawdown (3Y) | -47.1% | -48.4% |
| Market cap | $3.6B | $4.0B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 2.74% | 2.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNI | THO |
|---|---|---|
| 2022 | -29.9% | -25.6% |
| 2023 | +53.2% | +59.8% |
| 2024 | +23.8% | -17.9% |
| 2025 | -13.9% | +9.7% |
| 2026 | +21.1% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNI and THO good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HNI and THO?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.73 over the last year and 0.55 over 5 years.
Is THO a good diversifier for HNI?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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
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Related comparisons
Hubs: HNI correlations · THO correlations
