HQI vs RLGT: Correlation
Measured on weekly returns over the past three years, HireQuest, Inc. (HQI) and Radiant Logistics, Inc. (RLGT) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQI and RLGT?
On 3 years of weekly data the HQI/RLGT correlation comes out at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.43 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 569.0 %².
RLGT is one of the assets that tracks HQI most closely: it ranks #2 out of the 10 assets we track against HQI. The last year tells two different stories: HQI led by 36.6 percentage points, +71.4% for HQI against +34.8% for RLGT.
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.
HQI vs RLGT: side by side
| HQI (HireQuest, Inc.) | RLGT (Radiant Logistics, Inc.) | |
|---|---|---|
| 1-year return | +71.4% | +34.8% |
| 5-year return | -4.1% | +31.8% |
| Volatility (ann.) | 42.4% | 31.1% |
| Beta vs S&P 500 | 0.55 | 0.98 |
| Max drawdown (3Y) | -59.4% | -29.3% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | 28.6 | 25.6 |
| Dividend yield | 1.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQI | RLGT |
|---|---|---|
| 2022 | -20.4% | -30.2% |
| 2023 | -1.7% | +30.5% |
| 2024 | -6.1% | +0.9% |
| 2025 | -24.0% | -5.5% |
| 2026 | +54.0% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQI and RLGT good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HQI and RLGT?
As of 2026-08-27, the correlation of weekly returns between HQI and RLGT is 0.43 over 3 years, 0.16 over 1 year and 0.40 over 5 years.
Is RLGT a good diversifier for HQI?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/hqi-vs-rlgt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hqi-vs-rlgt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HQI correlations · RLGT correlations
