BRBS vs HFBL: Correlation
Blue Ridge Bankshares, Inc. (BRBS) and Home Federal Bancorp, Inc. of Louisiana (HFBL) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRBS and HFBL?
Over the past 3 years, BRBS and HFBL moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 502.4 %².
By 3-year correlation, HFBL places #6 of the 11 assets tracked against BRBS. Their recent paths diverged sharply: over the last 12 months HFBL outperformed by 81.1 percentage points (+20.9% for BRBS against +102.0% for HFBL). Note the risk asymmetry: BRBS runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BRBS vs HFBL: side by side
| BRBS (Blue Ridge Bankshares, Inc.) | HFBL (Home Federal Bancorp, Inc. of Louisiana) | |
|---|---|---|
| 1-year return | +20.9% | +102.0% |
| 5-year return | -70.4% | +67.8% |
| Volatility (ann.) | 47.8% | 30.5% |
| Beta vs S&P 500 | 0.73 | 0.12 |
| Max drawdown (3Y) | -74.3% | -28.6% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 43.3 | 12.6 |
| Dividend yield | 0.00% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRBS | HFBL |
|---|---|---|
| 2022 | -27.9% | -14.2% |
| 2023 | -75.2% | -13.5% |
| 2024 | +6.3% | -8.9% |
| 2025 | +40.1% | +49.2% |
| 2026 | +6.6% | +44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRBS and HFBL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BRBS and HFBL?
The BRBS/HFBL correlation stands at 0.34 on a 3-year window (1 year: 0.26, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is HFBL a good diversifier for BRBS?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BRBS correlations · HFBL correlations
