HRTG vs PLMR: Correlation
How closely do Heritage Insurance Holdings, Inc. (HRTG) and Palomar Holdings, Inc. (PLMR) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTG and PLMR?
On 3 years of weekly data the HRTG/PLMR correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.42 over 3. The 5-year figure is 0.25, and annualized covariance runs at 1067.9 %².
In HRTG's tracked universe of 11 assets, PLMR sits right near the top at #2. Correlation aside, the last 12 months split them widely, with HRTG ahead by 48.6 points (+53.6% versus +5.0%). Note the risk asymmetry: HRTG runs 2.0 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 PLMR: side by side
| HRTG (Heritage Insurance Holdings, Inc.) | PLMR (Palomar Holdings, Inc.) | |
|---|---|---|
| 1-year return | +53.6% | +5.0% |
| 5-year return | +422.5% | +44.4% |
| Volatility (ann.) | 71.1% | 35.9% |
| Beta vs S&P 500 | 0.71 | 0.34 |
| Max drawdown (3Y) | -43.9% | -42.3% |
| Market cap | $1.0B | $3.4B |
| P/E (trailing) | 4.9 | 17.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTG | PLMR |
|---|---|---|
| 2022 | -68.6% | -30.3% |
| 2023 | +262.2% | +22.9% |
| 2024 | +85.6% | +90.3% |
| 2025 | +141.8% | +27.6% |
| 2026 | +16.7% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTG and PLMR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HRTG and PLMR?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.47 over the last year and 0.25 over 5 years.
Is PLMR a good diversifier for HRTG?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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/hrtg-vs-plmr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrtg-vs-plmr/)
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Related comparisons
Hubs: HRTG correlations · PLMR correlations
