HTGC vs TRIN: Correlation
Hercules Capital, Inc. (HTGC) and Trinity Capital Inc. (TRIN) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTGC and TRIN?
Across a 3-year window, the weekly returns of HTGC and TRIN correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 260.7 %².
Among the 16 assets we track against HTGC, TRIN ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TRIN ahead by 34.2 points (+1.4% versus +35.6%).
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.
HTGC vs TRIN: side by side
| HTGC (Hercules Capital, Inc.) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | +1.4% | +35.6% |
| 5-year return | +82.3% | +139.8% |
| Volatility (ann.) | 22.4% | 18.5% |
| Beta vs S&P 500 | 0.79 | 0.56 |
| Max drawdown (3Y) | -28.0% | -15.6% |
| Market cap | $3.3B | $1.7B |
| P/E (trailing) | 8.7 | 10.7 |
| Dividend yield | 9.07% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTGC | TRIN |
|---|---|---|
| 2022 | -9.5% | -26.6% |
| 2023 | +42.9% | +54.0% |
| 2024 | +32.8% | +14.8% |
| 2025 | +3.5% | +16.0% |
| 2026 | +1.8% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTGC and TRIN good diversifiers for each other?
Only partially. A correlation of 0.63 means HTGC and TRIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HTGC and TRIN?
As of 2026-08-27, the correlation of weekly returns between HTGC and TRIN is 0.63 over 3 years, 0.73 over 1 year and 0.54 over 5 years.
Is TRIN a good diversifier for HTGC?
Only partially. A correlation of 0.63 means HTGC and TRIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 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: HTGC correlations · TRIN correlations
