HYFM vs TSAT: Correlation
Hydrofarm Holdings Group, Inc. (HYFM) and Telesat Corporation - Class A (TSAT) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYFM and TSAT?
Over the past 3 years, HYFM and TSAT moved with a correlation of 0.44, which is moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.44). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 4965.6 %².
By 3-year correlation, TSAT places #10 of the 19 assets tracked against HYFM. The last year tells two different stories: TSAT led by 207.6 percentage points, -80.5% for HYFM against +127.1% for TSAT. One caveat on sizing: HYFM is 1.9 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.
HYFM vs TSAT: side by side
| HYFM (Hydrofarm Holdings Group, Inc.) | TSAT (Telesat Corporation - Class A) | |
|---|---|---|
| 1-year return | -80.5% | +127.1% |
| 5-year return | -99.8% | +10.3% |
| Volatility (ann.) | 148.0% | 76.7% |
| Beta vs S&P 500 | 2.71 | 1.43 |
| Max drawdown (3Y) | -96.6% | -64.5% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYFM | TSAT |
|---|---|---|
| 2022 | -94.5% | -73.8% |
| 2023 | -40.8% | +39.1% |
| 2024 | -36.8% | +57.6% |
| 2025 | -74.0% | +77.0% |
| 2026 | -41.1% | +57.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYFM and TSAT good diversifiers for each other?
Reasonably. At 0.44, HYFM and TSAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HYFM and TSAT?
As of 2026-08-27, the correlation of weekly returns between HYFM and TSAT is 0.44 over 3 years, 0.70 over 1 year and 0.34 over 5 years.
Is TSAT a good diversifier for HYFM?
Reasonably. At 0.44, HYFM and TSAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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.
Use this data
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Related comparisons
Hubs: HYFM correlations · TSAT correlations
