HSY vs STEP: Correlation
Measured on weekly returns over the past three years, Hershey Company (The) (HSY) and StepStone Group Inc. (STEP) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and STEP?
Across a 3-year window, the weekly returns of HSY and STEP correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.10, with an annualized covariance of -218.2 %².
Out of 30 assets tracked against HSY, STEP lands near the bottom at #27. Correlation aside, the last 12 months split them widely, with HSY ahead by 19.9 points (+2.8% versus -17.1%).
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 STEP: side by side
| HSY (Hershey Company (The)) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | +2.8% | -17.1% |
| 5-year return | +16.5% | +20.7% |
| Volatility (ann.) | 25.6% | 37.9% |
| Beta vs S&P 500 | 0.03 | 1.43 |
| Max drawdown (3Y) | -31.2% | -46.9% |
| Market cap | $36.4B | $6.5B |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 3.05% | 2.25% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | HSY | STEP |
|---|---|---|
| 2022 | +21.9% | -37.8% |
| 2023 | -17.9% | +31.7% |
| 2024 | -6.5% | +85.9% |
| 2025 | +11.0% | +13.6% |
| 2026 | +1.9% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and STEP 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 STEP?
The HSY/STEP correlation stands at -0.23 on a 3-year window (1 year: -0.25, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is STEP 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hsy-vs-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hsy-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HSY correlations · STEP correlations
