HYLN vs UTSI: Correlation
Measured on weekly returns over the past three years, Hyliion Holdings Corp. (HYLN) and UTStarcom Holdings Corp (UTSI) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYLN and UTSI?
Over the past 3 years, HYLN and UTSI moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.25 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 1820.6 %².
Within HYLN's tracked universe of 14 assets, UTSI comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HYLN outperformed by 109.7 percentage points (+101.8% for HYLN against -7.9% for UTSI). One caveat on sizing: HYLN 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.
HYLN vs UTSI: side by side
| HYLN (Hyliion Holdings Corp.) | UTSI (UTStarcom Holdings Corp) | |
|---|---|---|
| 1-year return | +101.8% | -7.9% |
| 5-year return | -60.9% | -54.7% |
| Volatility (ann.) | 108.2% | 48.3% |
| Beta vs S&P 500 | 2.37 | 0.72 |
| Max drawdown (3Y) | -70.3% | -48.1% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYLN | UTSI |
|---|---|---|
| 2022 | -62.3% | +2.0% |
| 2023 | -65.2% | -3.1% |
| 2024 | +220.6% | -15.7% |
| 2025 | -29.5% | -12.4% |
| 2026 | +85.3% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYLN and UTSI good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HYLN and UTSI?
As of 2026-08-27, the correlation of weekly returns between HYLN and UTSI is 0.35 over 3 years, 0.25 over 1 year and 0.28 over 5 years.
Is UTSI a good diversifier for HYLN?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hyln-vs-utsi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hyln-vs-utsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYLN correlations · UTSI correlations
