ASB vs HBAN: Correlation
How closely do Associated Banc-Corp (ASB) and Huntington Bancshares (HBAN) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and HBAN?
Over the past 3 years, ASB and HBAN moved with a correlation of 0.88, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 764.6 %².
Among the 47 assets we track against ASB, HBAN ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ASB ahead by 20.2 points (+18.5% versus -1.7%).
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.
ASB vs HBAN: side by side
| ASB (Associated Banc-Corp) | HBAN (Huntington Bancshares) | |
|---|---|---|
| 1-year return | +18.5% | -1.7% |
| 5-year return | +82.7% | +36.8% |
| Volatility (ann.) | 29.0% | 29.8% |
| Beta vs S&P 500 | 1.03 | 1.07 |
| Max drawdown (3Y) | -31.6% | -30.0% |
| Market cap | $5.8B | $34.1B |
| P/E (trailing) | 10.8 | 13.1 |
| Dividend yield | 3.08% | 3.64% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | HBAN |
|---|---|---|
| 2022 | +6.0% | -4.4% |
| 2023 | -2.9% | -4.7% |
| 2024 | +16.2% | +33.7% |
| 2025 | +11.8% | +10.8% |
| 2026 | +21.7% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and HBAN good diversifiers for each other?
No: a correlation of 0.88 means ASB and HBAN tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ASB and HBAN?
The ASB/HBAN correlation stands at 0.88 on a 3-year window (1 year: 0.86, 5 years: 0.87), computed from weekly returns as of 2026-08-27.
Is HBAN a good diversifier for ASB?
No: a correlation of 0.88 means ASB and HBAN tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
A reading of 0.88 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
$ curl https://www.pairbook.io/api/v1/pairs/asb-vs-hban.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asb-vs-hban/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASB correlations · HBAN correlations
