AMCX vs HBNC: Correlation
Measured on weekly returns over the past three years, AMC Global Media Inc. (AMCX) and Horizon Bancorp, Inc. (HBNC) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCX and HBNC?
Across a 3-year window, the weekly returns of AMCX and HBNC correlate at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 800.6 %².
By 3-year correlation, HBNC places #5 of the 12 assets tracked against AMCX. The last year tells two different stories: AMCX led by 54.6 percentage points, +76.7% for AMCX against +22.1% for HBNC. Risk is not evenly split, since AMCX carries 1.7 times the volatility of the other side.
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.
AMCX vs HBNC: side by side
| AMCX (AMC Global Media Inc.) | HBNC (Horizon Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +76.7% | +22.1% |
| 5-year return | -74.1% | +36.0% |
| Volatility (ann.) | 54.2% | 32.7% |
| Beta vs S&P 500 | 1.21 | 0.96 |
| Max drawdown (3Y) | -73.1% | -29.6% |
| Market cap | $0.5B | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMCX | HBNC |
|---|---|---|
| 2022 | -54.5% | -25.3% |
| 2023 | +19.9% | +0.4% |
| 2024 | -47.3% | +18.2% |
| 2025 | -3.8% | +9.8% |
| 2026 | +29.7% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCX and HBNC good diversifiers for each other?
Reasonably. At 0.45, AMCX and HBNC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMCX and HBNC?
The AMCX/HBNC correlation stands at 0.45 on a 3-year window (1 year: 0.49, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is HBNC a good diversifier for AMCX?
Reasonably. At 0.45, AMCX and HBNC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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
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Related comparisons
Hubs: AMCX correlations · HBNC correlations
