HNST vs XBP: Correlation
Measured on weekly returns over the past three years, The Honest Company, Inc. (HNST) and XBP Global Holdings, Inc. (XBP) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNST and XBP?
Over the past 3 years, HNST and XBP moved with a correlation of 0.36, which is moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.36). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 4121.2 %².
By 3-year correlation, XBP places #6 of the 11 assets tracked against HNST. The last year tells two different stories: HNST led by 96.9 percentage points, +44.7% for HNST against -52.2% for XBP. One caveat on sizing: XBP is 1.8 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.
HNST vs XBP: side by side
| HNST (The Honest Company, Inc.) | XBP (XBP Global Holdings, Inc.) | |
|---|---|---|
| 1-year return | +44.7% | -52.2% |
| 5-year return | -42.6% | -97.1% |
| Volatility (ann.) | 79.5% | 145.1% |
| Beta vs S&P 500 | 1.81 | -0.32 |
| Max drawdown (3Y) | -75.5% | -99.5% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNST | XBP |
|---|---|---|
| 2022 | -62.8% | +4.3% |
| 2023 | +9.6% | -49.1% |
| 2024 | +110.0% | -79.4% |
| 2025 | -62.8% | -37.5% |
| 2026 | +123.3% | -57.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNST and XBP good diversifiers for each other?
Reasonably. At 0.36, HNST and XBP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HNST and XBP?
The HNST/XBP correlation stands at 0.36 on a 3-year window (1 year: 0.17, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is XBP a good diversifier for HNST?
Reasonably. At 0.36, HNST and XBP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/hnst-vs-xbp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hnst-vs-xbp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HNST correlations · XBP correlations
