HRZN vs TPET: Correlation
Measured on weekly returns over the past three years, Horizon Technology Finance Corporation (HRZN) and Trio Petroleum Corp. (TPET) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRZN and TPET?
Across a 3-year window, the weekly returns of HRZN and TPET correlate at -0.43, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.67) runs below the 3-year figure (-0.43). Stretching to 5 years gives n/a, with an annualized covariance of -3736.7 %².
Out of 16 assets tracked against HRZN, TPET lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months HRZN outperformed by 66.3 percentage points (-14.6% for HRZN against -80.9% for TPET). One caveat on sizing: TPET is 8.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HRZN vs TPET: side by side
| HRZN (Horizon Technology Finance Corporation) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | -14.6% | -80.9% |
| 5-year return | -44.7% | n/a |
| Volatility (ann.) | 32.9% | 264.2% |
| Beta vs S&P 500 | 0.55 | -2.89 |
| Max drawdown (3Y) | -59.4% | -98.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 23.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRZN | TPET |
|---|---|---|
| 2022 | -19.7% | – |
| 2023 | +27.0% | – |
| 2024 | -22.9% | -80.5% |
| 2025 | -14.4% | -34.4% |
| 2026 | -14.7% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRZN and TPET good diversifiers for each other?
Yes. With a correlation of -0.43, HRZN and TPET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HRZN and TPET?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.67 over the last year and n/a over 5 years.
Is TPET a good diversifier for HRZN?
Yes. With a correlation of -0.43, HRZN and TPET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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
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[](https://www.pairbook.io/pair/hrzn-vs-tpet/)
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Related comparisons
Hubs: HRZN correlations · TPET correlations
