HSTM vs KG: Correlation
Measured on weekly returns over the past three years, HealthStream, Inc. (HSTM) and Kestrel Group, Ltd. (KG) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSTM and KG?
Over the past 3 years, HSTM and KG moved with a correlation of 0.37, which is moderate. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.37). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 757.1 %².
By 3-year correlation, KG places #7 of the 13 assets tracked against HSTM. The last year tells two different stories: HSTM led by 75.0 percentage points, +2.2% for HSTM against -72.8% for KG. Risk is not evenly split, since KG carries 2.7 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.
HSTM vs KG: side by side
| HSTM (HealthStream, Inc.) | KG (Kestrel Group, Ltd.) | |
|---|---|---|
| 1-year return | +2.2% | -72.8% |
| 5-year return | -1.6% | -87.8% |
| Volatility (ann.) | 27.4% | 75.1% |
| Beta vs S&P 500 | 0.54 | 1.49 |
| Max drawdown (3Y) | -41.4% | -85.0% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | 40.0 | – |
| Dividend yield | 0.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSTM | KG |
|---|---|---|
| 2022 | -5.8% | -31.0% |
| 2023 | +9.3% | +8.5% |
| 2024 | +18.1% | -26.2% |
| 2025 | -27.1% | -69.7% |
| 2026 | +25.5% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSTM and KG good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HSTM and KG?
As of 2026-08-27, the correlation of weekly returns between HSTM and KG is 0.37 over 3 years, 0.48 over 1 year and 0.33 over 5 years.
Is KG a good diversifier for HSTM?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hstm-vs-kg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hstm-vs-kg/)
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Related comparisons
Hubs: HSTM correlations · KG correlations
