HNNA vs TARA: Correlation
How closely do Hennessy Advisors, Inc. (HNNA) and Protara Therapeutics, Inc. (TARA) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNNA and TARA?
On 3 years of weekly data the HNNA/TARA correlation comes out at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.34). The 5-year figure is 0.27, and annualized covariance runs at 888.0 %².
TARA is one of the assets that tracks HNNA most closely: it ranks #3 out of the 12 assets we track against HNNA. Correlation aside, the last 12 months split them widely, with TARA ahead by 30.9 points (-7.4% versus +23.5%). Risk is not evenly split, since TARA carries 3.3 times the volatility of the other side.
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.
HNNA vs TARA: side by side
| HNNA (Hennessy Advisors, Inc.) | TARA (Protara Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -7.4% | +23.5% |
| 5-year return | +35.8% | -49.9% |
| Volatility (ann.) | 28.4% | 93.1% |
| Beta vs S&P 500 | 0.37 | 1.19 |
| Max drawdown (3Y) | -34.0% | -66.5% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 5.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNNA | TARA |
|---|---|---|
| 2022 | -16.8% | -60.3% |
| 2023 | -13.8% | -30.0% |
| 2024 | +103.3% | +181.6% |
| 2025 | -20.8% | +0.9% |
| 2026 | +8.9% | -25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNNA and TARA good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HNNA and TARA?
As of 2026-08-27, the correlation of weekly returns between HNNA and TARA is 0.34 over 3 years, 0.15 over 1 year and 0.27 over 5 years.
Is TARA a good diversifier for HNNA?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/hnna-vs-tara.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hnna-vs-tara/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HNNA correlations · TARA correlations
