HOG vs PII: Correlation
How closely do Harley-Davidson, Inc. (HOG) and Polaris Inc. (PII) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOG and PII?
Over the past 3 years, HOG and PII moved with a correlation of 0.61, which is strong. The past 12 months show a weaker link (0.45) than the 3-year average (0.61). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 815.6 %².
In HOG's tracked universe of 10 assets, PII sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months PII outperformed by 17.2 percentage points (-1.4% for HOG against +15.8% for PII).
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.
HOG vs PII: side by side
| HOG (Harley-Davidson, Inc.) | PII (Polaris Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +15.8% |
| 5-year return | -22.1% | -39.0% |
| Volatility (ann.) | 34.2% | 39.0% |
| Beta vs S&P 500 | 0.91 | 1.07 |
| Max drawdown (3Y) | -58.7% | -70.4% |
| Market cap | $2.9B | $3.6B |
| P/E (trailing) | 15.5 | – |
| Dividend yield | 2.64% | 4.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOG | PII |
|---|---|---|
| 2022 | +12.1% | -6.0% |
| 2023 | -9.8% | -3.8% |
| 2024 | -16.6% | -37.2% |
| 2025 | -30.1% | +15.9% |
| 2026 | +38.4% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOG and PII good diversifiers for each other?
To a limited degree. At 0.61 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 HOG and PII?
The HOG/PII correlation stands at 0.61 on a 3-year window (1 year: 0.45, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is PII a good diversifier for HOG?
To a limited degree. At 0.61 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 0.61 mean?
On the −1 to +1 scale, 0.61 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/hog-vs-pii.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hog-vs-pii/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOG correlations · PII correlations
