HSY vs SYY: Correlation
Hershey Company (The) (HSY) and Sysco (SYY) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and SYY?
Over the past 3 years, HSY and SYY moved with a correlation of 0.42, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 218.2 %².
Among the 30 assets we track against HSY, SYY ranks #10 by 3-year correlation. Their 12-month results are close: +2.8% for HSY against +5.6% for SYY. The rolling one-year correlation moved between 0.32 and 0.58 over the past three years, a moderate range.
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 SYY: side by side
| HSY (Hershey Company (The)) | SYY (Sysco) | |
|---|---|---|
| 1-year return | +2.8% | +5.6% |
| 5-year return | +16.5% | +19.2% |
| Volatility (ann.) | 25.6% | 20.3% |
| Beta vs S&P 500 | 0.03 | 0.14 |
| Max drawdown (3Y) | -31.2% | -24.0% |
| Market cap | $36.4B | $39.5B |
| P/E (trailing) | 25.3 | 22.5 |
| Dividend yield | 3.05% | 2.61% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | HSY | SYY |
|---|---|---|
| 2022 | +21.9% | -0.3% |
| 2023 | -17.9% | -1.7% |
| 2024 | -6.5% | +7.4% |
| 2025 | +11.0% | -1.0% |
| 2026 | +1.9% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and SYY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HSY and SYY?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.42 over the last year and 0.41 over 5 years.
Is SYY a good diversifier for HSY?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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 · SYY correlations
