HRMY vs KRNT: Correlation
How closely do Harmony Biosciences Holdings, Inc. (HRMY) and Kornit Digital Ltd. (KRNT) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRMY and KRNT?
Over the past 3 years, HRMY and KRNT moved with a correlation of 0.51, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.51 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 1334.5 %².
In HRMY's tracked universe of 11 assets, KRNT sits right near the top at #1. Over the last 12 months KRNT came out ahead by 7.3 percentage points (+4.8% against +12.1%).
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.
HRMY vs KRNT: side by side
| HRMY (Harmony Biosciences Holdings, Inc.) | KRNT (Kornit Digital Ltd.) | |
|---|---|---|
| 1-year return | +4.8% | +12.1% |
| 5-year return | +7.6% | -87.2% |
| Volatility (ann.) | 49.1% | 53.2% |
| Beta vs S&P 500 | 1.31 | 2.06 |
| Max drawdown (3Y) | -50.8% | -62.6% |
| Market cap | $2.3B | $0.7B |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRMY | KRNT |
|---|---|---|
| 2022 | +29.2% | -84.9% |
| 2023 | -41.4% | -16.6% |
| 2024 | +6.5% | +61.5% |
| 2025 | +8.7% | -53.5% |
| 2026 | +6.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRMY and KRNT good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HRMY and KRNT?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.36 over the last year and 0.32 over 5 years.
Is KRNT a good diversifier for HRMY?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: HRMY correlations · KRNT correlations
