HSY vs KKR: Correlation
Measured on weekly returns over the past three years, Hershey Company (The) (HSY) and KKR & Co. (KKR) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and KKR?
Across a 3-year window, the weekly returns of HSY and KKR correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.19 over 3 years. Stretching to 5 years gives -0.11, with an annualized covariance of -182.4 %².
Within HSY's tracked universe of 30 assets, KKR comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HSY ahead by 24.4 points (+2.8% versus -21.6%). This link changes with the market regime, having swung between -0.42 and 0.17 on a rolling one-year basis.
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 KKR: side by side
| HSY (Hershey Company (The)) | KKR (KKR & Co.) | |
|---|---|---|
| 1-year return | +2.8% | -21.6% |
| 5-year return | +16.5% | +77.3% |
| Volatility (ann.) | 25.6% | 37.8% |
| Beta vs S&P 500 | 0.03 | 1.76 |
| Max drawdown (3Y) | -31.2% | -49.4% |
| Market cap | $36.4B | $101.0B |
| P/E (trailing) | 25.3 | 34.7 |
| Dividend yield | 3.05% | 0.70% |
| Sector / category | Consumer Staples | Financials |
Year-by-year returns
| Year | HSY | KKR |
|---|---|---|
| 2022 | +21.9% | -37.0% |
| 2023 | -17.9% | +80.5% |
| 2024 | -6.5% | +79.6% |
| 2025 | +11.0% | -13.3% |
| 2026 | +1.9% | -13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and KKR good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between HSY and KKR?
The HSY/KKR correlation stands at -0.19 on a 3-year window (1 year: -0.38, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is KKR a good diversifier for HSY?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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.
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Related comparisons
Hubs: HSY correlations · KKR correlations
