HNRG vs STRL: Correlation
Hallador Energy Company (HNRG) and Sterling Infrastructure, Inc. (STRL) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNRG and STRL?
Across a 3-year window, the weekly returns of HNRG and STRL correlate at 0.37, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.37 over 3. Stretching to 5 years gives 0.29, with an annualized covariance of 1773.3 %².
Few assets follow HNRG as closely as STRL, which ranks #2 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months STRL outperformed by 73.0 percentage points (+2.0% for HNRG against +75.0% for STRL).
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 STRL: side by side
| HNRG (Hallador Energy Company) | STRL (Sterling Infrastructure, Inc.) | |
|---|---|---|
| 1-year return | +2.0% | +75.0% |
| 5-year return | +629.4% | +2095.9% |
| Volatility (ann.) | 72.5% | 66.9% |
| Beta vs S&P 500 | 1.09 | 2.13 |
| Max drawdown (3Y) | -71.1% | -51.1% |
| Market cap | $0.8B | $15.5B |
| P/E (trailing) | 831.5 | 36.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNRG | STRL |
|---|---|---|
| 2022 | +306.1% | +24.7% |
| 2023 | -11.5% | +168.1% |
| 2024 | +29.5% | +91.6% |
| 2025 | +66.3% | +81.8% |
| 2026 | -12.7% | +65.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNRG and STRL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HNRG and STRL?
As of 2026-08-27, the correlation of weekly returns between HNRG and STRL is 0.37 over 3 years, 0.47 over 1 year and 0.29 over 5 years.
Is STRL a good diversifier for HNRG?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/hnrg-vs-strl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hnrg-vs-strl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HNRG correlations · STRL correlations
