AOUT vs HWC: Correlation
How closely do American Outdoor Brands, Inc. (AOUT) and Hancock Whitney Corporation (HWC) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOUT and HWC?
Over the past 3 years, AOUT and HWC moved with a correlation of 0.45, which is moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 672.0 %².
Within AOUT's tracked universe of 10 assets, HWC comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HWC outperformed by 23.8 percentage points (-2.2% for AOUT against +21.6% for HWC). Risk is not evenly split, since AOUT carries 1.6 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.
AOUT vs HWC: side by side
| AOUT (American Outdoor Brands, Inc.) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | -2.2% | +21.6% |
| 5-year return | -62.4% | +89.0% |
| Volatility (ann.) | 48.7% | 30.7% |
| Beta vs S&P 500 | 0.91 | 1.03 |
| Max drawdown (3Y) | -64.2% | -23.9% |
| Market cap | $0.1B | $6.0B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 0.00% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOUT | HWC |
|---|---|---|
| 2022 | -49.7% | -1.2% |
| 2023 | -16.2% | +3.3% |
| 2024 | +81.4% | +16.1% |
| 2025 | -49.3% | +20.0% |
| 2026 | +34.0% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOUT and HWC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AOUT and HWC?
As of 2026-08-27, the correlation of weekly returns between AOUT and HWC is 0.45 over 3 years, 0.51 over 1 year and 0.40 over 5 years.
Is HWC a good diversifier for AOUT?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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
$ curl https://www.pairbook.io/api/v1/pairs/aout-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aout-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AOUT correlations · HWC correlations
