PJT vs. HLI
PJT (PJT Partners Inc.) and HLI (Houlihan Lokey, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 10 years, PJT returned 23.02%/yr vs 22.89%/yr for HLI. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
PJT vs. HLI - Performance Comparison
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Returns By Period
In the year-to-date period, PJT achieves a -2.20% return, which is significantly higher than HLI's -18.85% return. Both investments have delivered pretty close results over the past 10 years, with PJT having a 23.02% annualized return and HLI not far behind at 22.89%.
PJT
- 1D
- 4.53%
- 1M
- 5.26%
- 6M
- -3.55%
- YTD
- -2.20%
- 1Y
- -2.65%
- 3Y*
- 33.42%
- 5Y*
- 19.82%
- 10Y*
- 23.02%
HLI
- 1D
- 1.59%
- 1M
- 1.24%
- 6M
- -19.83%
- YTD
- -18.85%
- 1Y
- -23.30%
- 3Y*
- 14.17%
- 5Y*
- 13.30%
- 10Y*
- 22.89%
PJT vs. HLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJT PJT Partners Inc. | -2.20% | 6.62% | 56.23% | 40.00% | 0.92% | 2.62% | 67.34% | 17.00% | -14.67% | 48.41% |
HLI Houlihan Lokey, Inc. | -18.85% | 1.64% | 47.04% | 40.67% | -13.88% | 57.04% | 40.61% | 36.33% | -17.20% | 49.30% |
Correlation
The correlation between PJT and HLI is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015 | 0.60 |
The correlation between PJT and HLI shifts across timeframes, from 0.60 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
PJT:
$4.21B
HLI:
$9.68B
PJT:
$4.85
HLI:
$6.23
PJT:
33.63
HLI:
22.51
PJT:
4.30
HLI:
6.96
PJT:
3.47
HLI:
3.66
PJT:
25.87
HLI:
4.07
PJT:
$1.81B
HLI:
$2.62B
PJT:
$590.27M
HLI:
$1.37B
PJT:
$412.32M
HLI:
$636.63M
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Return for Risk
PJT vs. HLI — Risk / Return Rank
PJT
HLI
PJT vs. HLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PJT Partners Inc. (PJT) and Houlihan Lokey, Inc. (HLI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PJT | HLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.86 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.63 | +0.58 |
| Martin ratioReturn relative to average drawdown | -0.12 | -1.15 | +1.03 |
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Drawdowns
PJT vs. HLI - Drawdown Comparison
The maximum PJT drawdown since its inception was -58.44%, which is greater than HLI's maximum drawdown of -36.57%. Use the drawdown chart below to compare losses from any high point for PJT and HLI.
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Drawdown Indicators
| PJT | HLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.44% | -36.57% | -21.87% |
Max Drawdown (1Y)Largest decline over 1 year | -32.47% | -35.69% | +3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -32.47% | -35.69% | +3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -37.80% | -36.57% | -1.23% |
Max Drawdown (10Y)Largest decline over 10 years | -58.44% | -36.57% | -21.87% |
Current DrawdownCurrent decline from peak | -14.57% | -32.19% | +17.62% |
Average DrawdownAverage peak-to-trough decline | -13.02% | -9.70% | -3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.83% | 19.55% | -4.72% |
Volatility
PJT vs. HLI - Volatility Comparison
PJT Partners Inc. (PJT) has a higher volatility of 11.42% compared to Houlihan Lokey, Inc. (HLI) at 9.07%. This indicates that PJT's price experiences larger fluctuations and is considered to be riskier than HLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJT | HLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.42% | 9.07% | +2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 23.23% | 20.39% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.03% | 26.60% | +3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.35% | 28.06% | +2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.46% | 26.82% | +6.64% |
Dividends
PJT vs. HLI - Dividend Comparison
PJT's dividend yield for the trailing twelve months is around 0.61%, less than HLI's 1.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLI Houlihan Lokey, Inc. | 1.78% | 1.36% | 1.30% | 1.82% | 2.32% | 1.56% | 1.90% | 2.46% | 2.74% | 1.76% | 2.12% | 0.57% |
PJT PJT Partners Inc. | 0.61% | 0.60% | 0.63% | 0.98% | 1.36% | 4.32% | 0.27% | 0.44% | 0.52% | 0.44% | 0.65% | 0.00% |
Financials
PJT vs. HLI - Financials Comparison
This section allows you to compare key financial metrics between PJT Partners Inc. and Houlihan Lokey, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PJT vs. HLI - Profitability Comparison
PJT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, PJT Partners Inc. reported a gross profit of 137.94M and revenue of 418.20M. Therefore, the gross margin over that period was 33.0%.
HLI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Houlihan Lokey, Inc. reported a gross profit of 201.88M and revenue of 635.64M. Therefore, the gross margin over that period was 31.8%.
PJT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, PJT Partners Inc. reported an operating income of 80.34M and revenue of 418.20M, resulting in an operating margin of 19.2%.
HLI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Houlihan Lokey, Inc. reported an operating income of 125.15M and revenue of 635.64M, resulting in an operating margin of 19.7%.
PJT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, PJT Partners Inc. reported a net income of 60.50M and revenue of 418.20M, resulting in a net margin of 14.5%.
HLI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Houlihan Lokey, Inc. reported a net income of 99.84M and revenue of 635.64M, resulting in a net margin of 15.7%.
Frequently Asked Questions
PJT and HLI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PJT has higher volatility (11.42%) compared to HLI (9.07%). In terms of maximum drawdown, PJT dropped -58.44% vs HLI's -36.57%.
PJT currently has the higher Sharpe Ratio (-0.06 vs -0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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