HRTG vs UVE: Correlation
How closely do Heritage Insurance Holdings, Inc. (HRTG) and UNIVERSAL INSURANCE HOLDINGS INC (UVE) 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 HRTG and UVE?
Over the past 3 years, HRTG and UVE moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 1204.7 %².
In HRTG's tracked universe of 11 assets, UVE sits right near the top at #1. Correlation aside, the last 12 months split them widely, with UVE ahead by 26.7 points (+53.6% versus +80.3%). Risk is not evenly split, since HRTG carries 2.1 times the volatility of the other side.
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 UVE: side by side
| HRTG (Heritage Insurance Holdings, Inc.) | UVE (UNIVERSAL INSURANCE HOLDINGS INC) | |
|---|---|---|
| 1-year return | +53.6% | +80.3% |
| 5-year return | +422.5% | +277.8% |
| Volatility (ann.) | 71.1% | 33.5% |
| Beta vs S&P 500 | 0.71 | 0.36 |
| Max drawdown (3Y) | -43.9% | -25.7% |
| Market cap | $1.0B | $1.2B |
| P/E (trailing) | 4.9 | 5.7 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTG | UVE |
|---|---|---|
| 2022 | -68.6% | -33.5% |
| 2023 | +262.2% | +58.1% |
| 2024 | +85.6% | +36.8% |
| 2025 | +141.8% | +65.3% |
| 2026 | +16.7% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTG and UVE good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HRTG and UVE?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.57 over the last year and 0.41 over 5 years.
Is UVE a good diversifier for HRTG?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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-uve.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hrtg-vs-uve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HRTG correlations · UVE correlations
