BOH vs GBCI: Correlation
Bank of Hawaii Corporation (BOH) and Glacier Bancorp, Inc. (GBCI) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOH and GBCI?
On 3 years of weekly data the BOH/GBCI correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 776.7 %².
By 3-year correlation, GBCI places #4 of the 12 assets tracked against BOH. The last year tells two different stories: BOH led by 16.8 percentage points, +16.9% for BOH against +0.1% for GBCI.
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 GBCI: side by side
| BOH (Bank of Hawaii Corporation) | GBCI (Glacier Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +0.1% |
| 5-year return | +14.3% | +4.0% |
| Volatility (ann.) | 29.1% | 32.6% |
| Beta vs S&P 500 | 0.71 | 0.87 |
| Max drawdown (3Y) | -24.2% | -34.8% |
| Market cap | $3.0B | $6.2B |
| P/E (trailing) | 14.4 | 19.4 |
| Dividend yield | 3.62% | 2.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOH | GBCI |
|---|---|---|
| 2022 | -4.1% | -10.4% |
| 2023 | -1.5% | -13.0% |
| 2024 | +3.6% | +25.4% |
| 2025 | +0.0% | -9.6% |
| 2026 | +15.0% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOH and GBCI good diversifiers for each other?
No. With a correlation of 0.82, BOH and GBCI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BOH and GBCI?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.75 over the last year and 0.74 over 5 years.
Is GBCI a good diversifier for BOH?
No. With a correlation of 0.82, BOH and GBCI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BOH correlations · GBCI correlations
