AXTA vs HWBK: Correlation
Measured on weekly returns over the past three years, Axalta Coating Systems Ltd. (AXTA) and Hawthorn Bancshares, Inc. (HWBK) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and HWBK?
Across a 3-year window, the weekly returns of AXTA and HWBK correlate at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 363.1 %².
HWBK is close to the least connected end of AXTA's tracked universe, ranking #14 of 17. Their 12-month results are close: +16.6% for AXTA against +21.4% for HWBK.
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.
AXTA vs HWBK: side by side
| AXTA (Axalta Coating Systems Ltd.) | HWBK (Hawthorn Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +16.6% | +21.4% |
| 5-year return | +18.4% | +114.2% |
| Volatility (ann.) | 29.8% | 33.4% |
| Beta vs S&P 500 | 1.01 | 0.50 |
| Max drawdown (3Y) | -38.4% | -27.9% |
| Market cap | $7.9B | $0.3B |
| P/E (trailing) | 22.5 | 10.6 |
| Dividend yield | 0.00% | 2.10% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXTA | HWBK |
|---|---|---|
| 2022 | -23.1% | -10.3% |
| 2023 | +33.4% | +25.6% |
| 2024 | +0.7% | +15.4% |
| 2025 | -5.6% | +26.3% |
| 2026 | +13.6% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and HWBK good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AXTA and HWBK?
As of 2026-08-27, the correlation of weekly returns between AXTA and HWBK is 0.36 over 3 years, 0.31 over 1 year and 0.33 over 5 years.
Is HWBK a good diversifier for AXTA?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 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/axta-vs-hwbk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axta-vs-hwbk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXTA correlations · HWBK correlations
