HQI vs THO: Correlation
Measured on weekly returns over the past three years, HireQuest, Inc. (HQI) and Thor Industries, Inc. (THO) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQI and THO?
Over the past 3 years, HQI and THO moved with a correlation of 0.40, which is moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.40). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 627.8 %².
Within HQI's tracked universe of 10 assets, THO comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HQI outperformed by 100.6 percentage points (+71.4% for HQI against -29.2% for THO).
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 THO: side by side
| HQI (HireQuest, Inc.) | THO (Thor Industries, Inc.) | |
|---|---|---|
| 1-year return | +71.4% | -29.2% |
| 5-year return | -4.1% | -26.9% |
| Volatility (ann.) | 42.4% | 37.1% |
| Beta vs S&P 500 | 0.55 | 1.19 |
| Max drawdown (3Y) | -59.4% | -48.4% |
| Market cap | $0.2B | $4.0B |
| P/E (trailing) | 28.6 | 15.4 |
| Dividend yield | 1.41% | 2.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQI | THO |
|---|---|---|
| 2022 | -20.4% | -25.6% |
| 2023 | -1.7% | +59.8% |
| 2024 | -6.1% | -17.9% |
| 2025 | -24.0% | +9.7% |
| 2026 | +54.0% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQI and THO good diversifiers for each other?
Reasonably. At 0.40, HQI and THO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HQI and THO?
As of 2026-08-27, the correlation of weekly returns between HQI and THO is 0.40 over 3 years, 0.29 over 1 year and 0.37 over 5 years.
Is THO a good diversifier for HQI?
Reasonably. At 0.40, HQI and THO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HQI correlations · THO correlations
