HTH vs PAHC: Correlation
Hilltop Holdings Inc. (HTH) and Phibro Animal Health Corporation (PAHC) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTH and PAHC?
On 3 years of weekly data the HTH/PAHC correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 608.2 %².
Among the 14 assets we track against HTH, PAHC ranks #8 by 3-year correlation. Neither side won the trailing year by much: +11.8% against +14.3%. One caveat on sizing: PAHC is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HTH vs PAHC: side by side
| HTH (Hilltop Holdings Inc.) | PAHC (Phibro Animal Health Corporation) | |
|---|---|---|
| 1-year return | +11.8% | +14.3% |
| 5-year return | +29.0% | +73.3% |
| Volatility (ann.) | 24.1% | 53.5% |
| Beta vs S&P 500 | 0.61 | 0.79 |
| Max drawdown (3Y) | -21.8% | -52.1% |
| Market cap | $2.2B | $1.5B |
| P/E (trailing) | 14.3 | 15.5 |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTH | PAHC |
|---|---|---|
| 2022 | -12.9% | -32.3% |
| 2023 | +19.8% | -10.4% |
| 2024 | -16.9% | +86.3% |
| 2025 | +21.3% | +80.8% |
| 2026 | +15.5% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTH and PAHC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HTH and PAHC?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.37 over the last year and 0.44 over 5 years.
Is PAHC a good diversifier for HTH?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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: HTH correlations · PAHC correlations
