HNRG vs LLY: Correlation
Measured on weekly returns over the past three years, Hallador Energy Company (HNRG) and Lilly (Eli) (LLY) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNRG and LLY?
Across a 3-year window, the weekly returns of HNRG and LLY correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -504.6 %².
Among the 11 assets we track against HNRG, LLY sits near the bottom by co-movement, at rank #8. The last year tells two different stories: LLY led by 59.2 percentage points, +2.0% for HNRG against +61.2% for LLY. One caveat on sizing: HNRG is 2.0 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.
HNRG vs LLY: side by side
| HNRG (Hallador Energy Company) | LLY (Lilly (Eli)) | |
|---|---|---|
| 1-year return | +2.0% | +61.2% |
| 5-year return | +629.4% | +369.2% |
| Volatility (ann.) | 72.5% | 36.6% |
| Beta vs S&P 500 | 1.09 | 0.57 |
| Max drawdown (3Y) | -71.1% | -34.5% |
| Market cap | $0.8B | $1,048.8B |
| P/E (trailing) | 831.5 | 40.0 |
| Dividend yield | 0.00% | 0.54% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | HNRG | LLY |
|---|---|---|
| 2022 | +306.1% | +34.3% |
| 2023 | -11.5% | +60.9% |
| 2024 | +29.5% | +33.3% |
| 2025 | +66.3% | +40.2% |
| 2026 | -12.7% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNRG and LLY good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between HNRG and LLY?
As of 2026-08-27, the correlation of weekly returns between HNRG and LLY is -0.19 over 3 years, -0.19 over 1 year and -0.08 over 5 years.
Is LLY a good diversifier for HNRG?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/hnrg-vs-lly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hnrg-vs-lly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HNRG correlations · LLY correlations
