ASB vs HWC: Correlation
How closely do Associated Banc-Corp (ASB) and Hancock Whitney Corporation (HWC) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and HWC?
On 3 years of weekly data the ASB/HWC correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.89 over 3. The 5-year figure is 0.87, and annualized covariance runs at 793.8 %².
Within ASB's tracked universe of 47 assets, HWC comes in at #6 by 3-year correlation. Their 12-month results are close: +18.5% for ASB against +21.6% for HWC.
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 HWC: side by side
| ASB (Associated Banc-Corp) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | +18.5% | +21.6% |
| 5-year return | +82.7% | +89.0% |
| Volatility (ann.) | 29.0% | 30.7% |
| Beta vs S&P 500 | 1.03 | 1.03 |
| Max drawdown (3Y) | -31.6% | -23.9% |
| Market cap | $5.8B | $6.0B |
| P/E (trailing) | 10.8 | 14.7 |
| Dividend yield | 3.08% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | HWC |
|---|---|---|
| 2022 | +6.0% | -1.2% |
| 2023 | -2.9% | +3.3% |
| 2024 | +16.2% | +16.1% |
| 2025 | +11.8% | +20.0% |
| 2026 | +21.7% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and HWC good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and HWC?
As of 2026-08-27, the correlation of weekly returns between ASB and HWC is 0.89 over 3 years, 0.84 over 1 year and 0.87 over 5 years.
Is HWC a good diversifier for ASB?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asb-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASB correlations · HWC correlations
