HSY vs HUBS: Correlation
Hershey Company (The) (HSY) and HubSpot, Inc. (HUBS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and HUBS?
Across a 3-year window, the weekly returns of HSY and HUBS correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.23). Stretching to 5 years gives -0.10, with an annualized covariance of -294.0 %².
Among the 30 assets we track against HSY, HUBS ranks #25 by 3-year correlation. The last year tells two different stories: HSY led by 48.3 percentage points, +2.8% for HSY against -45.5% for HUBS. Risk is not evenly split, since HUBS carries 2.0 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.
HSY vs HUBS: side by side
| HSY (Hershey Company (The)) | HUBS (HubSpot, Inc.) | |
|---|---|---|
| 1-year return | +2.8% | -45.5% |
| 5-year return | +16.5% | -63.5% |
| Volatility (ann.) | 25.6% | 50.4% |
| Beta vs S&P 500 | 0.03 | 1.18 |
| Max drawdown (3Y) | -31.2% | -79.2% |
| Market cap | $36.4B | $13.1B |
| P/E (trailing) | 25.3 | 90.7 |
| Dividend yield | 3.05% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | HSY | HUBS |
|---|---|---|
| 2022 | +21.9% | -56.1% |
| 2023 | -17.9% | +100.8% |
| 2024 | -6.5% | +20.0% |
| 2025 | +11.0% | -42.4% |
| 2026 | +1.9% | -36.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and HUBS good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between HSY and HUBS?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.34 over the last year and -0.10 over 5 years.
Is HUBS a good diversifier for HSY?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HSY correlations · HUBS correlations
