BY vs HBT: Correlation
Measured on weekly returns over the past three years, Byline Bancorp, Inc. (BY) and HBT Financial, Inc. (HBT) 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 BY and HBT?
On 3 years of weekly data the BY/HBT correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 600.0 %².
By 3-year correlation, HBT places #25 of the 70 assets tracked against BY. Over the last 12 months HBT came out ahead by 5.8 percentage points (+32.5% against +38.3%).
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 HBT: side by side
| BY (Byline Bancorp, Inc.) | HBT (HBT Financial, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +38.3% |
| 5-year return | +66.2% | +160.4% |
| Volatility (ann.) | 26.8% | 26.7% |
| Beta vs S&P 500 | 0.80 | 0.80 |
| Max drawdown (3Y) | -27.2% | -18.7% |
| Market cap | $1.7B | $1.3B |
| P/E (trailing) | 11.5 | 15.2 |
| Dividend yield | 1.15% | 2.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | HBT |
|---|---|---|
| 2022 | -14.7% | +8.1% |
| 2023 | +4.3% | +11.7% |
| 2024 | +25.0% | +7.7% |
| 2025 | +2.0% | +22.2% |
| 2026 | +32.7% | +41.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and HBT 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 BY and HBT?
As of 2026-08-27, the correlation of weekly returns between BY and HBT is 0.84 over 3 years, 0.80 over 1 year and 0.74 over 5 years.
Is HBT a good diversifier for BY?
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/by-vs-hbt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/by-vs-hbt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BY correlations · HBT correlations
