HRL vs KHC: Correlation
How closely do Hormel Foods (HRL) and Kraft Heinz (KHC) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRL and KHC?
Across a 3-year window, the weekly returns of HRL and KHC correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.23 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.40, with an annualized covariance of 187.2 %².
By 3-year correlation, KHC places #18 of the 35 assets tracked against HRL. Their recent paths diverged sharply: over the last 12 months KHC outperformed by 18.9 percentage points (-22.8% for HRL against -3.9% for KHC). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.13 to 0.64.
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.
HRL vs KHC: side by side
| HRL (Hormel Foods) | KHC (Kraft Heinz) | |
|---|---|---|
| 1-year return | -22.8% | -3.9% |
| 5-year return | -44.3% | -10.9% |
| Volatility (ann.) | 26.1% | 21.7% |
| Beta vs S&P 500 | 0.07 | 0.12 |
| Max drawdown (3Y) | -44.5% | -38.7% |
| Market cap | – | $29.8B |
| P/E (trailing) | 28.0 | – |
| Dividend yield | 0.00% | 6.45% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | HRL | KHC |
|---|---|---|
| 2022 | -4.7% | +18.2% |
| 2023 | -27.5% | -5.0% |
| 2024 | +1.2% | -13.0% |
| 2025 | -21.3% | -16.3% |
| 2026 | -6.7% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRL and KHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HRL and KHC?
The HRL/KHC correlation stands at 0.33 on a 3-year window (1 year: 0.23, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is KHC a good diversifier for HRL?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrl-vs-khc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrl-vs-khc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HRL correlations · KHC correlations
