HERITAGE GLOBAL INC (HGBL) — Stock Correlations & Overview
Over the past year, HGBL has moved most closely with ALTG, EIRL, LZB. Explore the stocks most correlated and inversely correlated with HGBL below, along with its price, financials, and company profile.
Stocks correlated with HGBL
Correlation of daily returns. Higher positive values move with HGBL; negative values move opposite it. Informational only, not investment advice.
Most correlated with HGBL
| Symbol | Company | Correlation |
|---|---|---|
| ALTG | Alta Equipment Group Inc.WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT | 0.27 |
| EIRL | iShares MSCI Ireland ETF | 0.27 |
| LZB | La-Z-Boy IncorporatedHOUSEHOLD FURNITURE | 0.26 |
| CERT | Certara, Inc. Common StockSERVICES-PREPACKAGED SOFTWARE | 0.26 |
| MTUS | Metallus Inc.STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS) | 0.24 |
Most inversely correlated with HGBL
| Symbol | Company | Correlation |
|---|---|---|
| BRFH | Barfresh Food Group Inc. Common StockCANNED, FROZEN & PRESERVD FRUIT, VEG & FOOD SPECIALTIES | -0.20 |
| TWG | Top Wealth Group Holding Limited Class A Ordinary Shares | -0.19 |
| HTLM | HomesToLife Ltd Ordinary Shares | -0.18 |
| LANDP | Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred StockREAL ESTATE INVESTMENT TRUSTS | -0.17 |
| SMN | ProShares UltraShort Materials | -0.16 |
Frequently asked questions about HGBL correlations
- Which stocks are most correlated with HGBL?
- Based on one year of daily returns, the stocks most correlated with HERITAGE GLOBAL INC (HGBL) are ALTG (0.27), EIRL (0.27) and LZB (0.26). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with HGBL?
- Over the past year, the stocks most inversely correlated with HERITAGE GLOBAL INC (HGBL) are BRFH (-0.20), TWG (-0.19) and HTLM (-0.18). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these HGBL correlations calculated?
- We compute the correlation of daily returns between HGBL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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