HRTG vs NGS: Correlation
Heritage Insurance Holdings, Inc. (HRTG) and Natural Gas Services Group, Inc. (NGS) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTG and NGS?
Across a 3-year window, the weekly returns of HRTG and NGS correlate at 0.37, moderate. The link has loosened recently: the 1-year correlation (0.13) runs below the 3-year figure (0.37). Stretching to 5 years gives 0.31, with an annualized covariance of 1181.2 %².
Among the 11 assets we track against HRTG, NGS ranks #4 by 3-year correlation. The last year tells two different stories: HRTG led by 15.7 percentage points, +53.6% for HRTG against +37.9% for NGS. Note the risk asymmetry: HRTG runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HRTG vs NGS: side by side
| HRTG (Heritage Insurance Holdings, Inc.) | NGS (Natural Gas Services Group, Inc.) | |
|---|---|---|
| 1-year return | +53.6% | +37.9% |
| 5-year return | +422.5% | +274.7% |
| Volatility (ann.) | 71.1% | 45.0% |
| Beta vs S&P 500 | 0.71 | 0.87 |
| Max drawdown (3Y) | -43.9% | -40.9% |
| Market cap | $1.0B | $0.5B |
| P/E (trailing) | 4.9 | 21.7 |
| Dividend yield | 0.00% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTG | NGS |
|---|---|---|
| 2022 | -68.6% | +9.5% |
| 2023 | +262.2% | +40.3% |
| 2024 | +85.6% | +66.7% |
| 2025 | +141.8% | +26.5% |
| 2026 | +16.7% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTG and NGS good diversifiers for each other?
Reasonably. At 0.37, HRTG and NGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HRTG and NGS?
As of 2026-08-27, the correlation of weekly returns between HRTG and NGS is 0.37 over 3 years, 0.13 over 1 year and 0.31 over 5 years.
Is NGS a good diversifier for HRTG?
Reasonably. At 0.37, HRTG and NGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/hrtg-vs-ngs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hrtg-vs-ngs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HRTG correlations · NGS correlations
