BOH vs FHB: Correlation
Measured on weekly returns over the past three years, Bank of Hawaii Corporation (BOH) and First Hawaiian, Inc. (FHB) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOH and FHB?
Across a 3-year window, the weekly returns of BOH and FHB correlate at 0.84, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.73) than the 3-year average (0.84). Stretching to 5 years gives 0.84, with an annualized covariance of 625.5 %².
Few assets follow BOH as closely as FHB, which ranks #1 of 12 tracked partners. On 12-month performance BOH holds a 13.6-point edge, +16.9% against +3.3%.
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.
BOH vs FHB: side by side
| BOH (Bank of Hawaii Corporation) | FHB (First Hawaiian, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +3.3% |
| 5-year return | +14.3% | +16.4% |
| Volatility (ann.) | 29.1% | 25.6% |
| Beta vs S&P 500 | 0.71 | 0.77 |
| Max drawdown (3Y) | -24.2% | -24.3% |
| Market cap | $3.0B | $3.1B |
| P/E (trailing) | 14.4 | 11.3 |
| Dividend yield | 3.62% | 4.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOH | FHB |
|---|---|---|
| 2022 | -4.1% | -0.9% |
| 2023 | -1.5% | -7.6% |
| 2024 | +3.6% | +18.7% |
| 2025 | +0.0% | +1.6% |
| 2026 | +15.0% | +5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOH and FHB good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BOH and FHB?
As of 2026-08-27, the correlation of weekly returns between BOH and FHB is 0.84 over 3 years, 0.73 over 1 year and 0.84 over 5 years.
Is FHB a good diversifier for BOH?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 mean?
A reading of 0.84 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/boh-vs-fhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boh-vs-fhb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOH correlations · FHB correlations
