HYFM vs MNST: Correlation
How closely do Hydrofarm Holdings Group, Inc. (HYFM) and Monster Beverage (MNST) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYFM and MNST?
On 3 years of weekly data the HYFM/MNST correlation comes out at 0.63, strong. The past 12 months show a tighter link (0.76) than the 3-year average (0.63). The 5-year figure is 0.57, and annualized covariance runs at 6437.6 %².
MNST is one of the assets that tracks HYFM most closely: it ranks #1 out of the 19 assets we track against HYFM. Correlation aside, the last 12 months split them widely, with MNST ahead by 56.2 points (-80.5% versus -24.3%). Note the risk asymmetry: HYFM runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HYFM vs MNST: side by side
| HYFM (Hydrofarm Holdings Group, Inc.) | MNST (Monster Beverage) | |
|---|---|---|
| 1-year return | -80.5% | -24.3% |
| 5-year return | -99.8% | -4.5% |
| Volatility (ann.) | 148.0% | 68.6% |
| Beta vs S&P 500 | 2.71 | 0.80 |
| Max drawdown (3Y) | -96.6% | -54.5% |
| Market cap | – | $91.5B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | HYFM | MNST |
|---|---|---|
| 2022 | -94.5% | +5.7% |
| 2023 | -40.8% | +13.5% |
| 2024 | -36.8% | -8.8% |
| 2025 | -74.0% | +45.9% |
| 2026 | -41.1% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYFM and MNST good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HYFM and MNST?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.76 over the last year and 0.57 over 5 years.
Is MNST a good diversifier for HYFM?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
A reading of 0.63 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/hyfm-vs-mnst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyfm-vs-mnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HYFM correlations · MNST correlations
