BY vs HAFC: Correlation
How closely do Byline Bancorp, Inc. (BY) and Hanmi Financial Corporation (HAFC) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and HAFC?
Over the past 3 years, BY and HAFC moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.68) runs below the 3-year figure (0.82). Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 717.1 %².
By 3-year correlation, HAFC places #32 of the 70 assets tracked against BY. Over the last 12 months BY came out ahead by 5.2 percentage points (+32.5% against +27.3%).
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.
BY vs HAFC: side by side
| BY (Byline Bancorp, Inc.) | HAFC (Hanmi Financial Corporation) | |
|---|---|---|
| 1-year return | +32.5% | +27.3% |
| 5-year return | +66.2% | +104.5% |
| Volatility (ann.) | 26.8% | 32.5% |
| Beta vs S&P 500 | 0.80 | 0.90 |
| Max drawdown (3Y) | -27.2% | -26.9% |
| Market cap | $1.7B | $0.9B |
| P/E (trailing) | 11.5 | 10.5 |
| Dividend yield | 1.15% | 3.54% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | HAFC |
|---|---|---|
| 2022 | -14.7% | +8.5% |
| 2023 | +4.3% | -17.0% |
| 2024 | +25.0% | +28.7% |
| 2025 | +2.0% | +19.7% |
| 2026 | +32.7% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and HAFC good diversifiers for each other?
No. With a correlation of 0.82, BY and HAFC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BY and HAFC?
As of 2026-08-27, the correlation of weekly returns between BY and HAFC is 0.82 over 3 years, 0.68 over 1 year and 0.78 over 5 years.
Is HAFC a good diversifier for BY?
No. With a correlation of 0.82, BY and HAFC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/by-vs-hafc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/by-vs-hafc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BY correlations · HAFC correlations
