CCL vs HBAN: Correlation
Carnival Corporation (CCL) and Huntington Bancshares (HBAN) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and HBAN?
Over the past 3 years, CCL and HBAN moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 874.1 %².
By 3-year correlation, HBAN places #8 of the 40 assets tracked against CCL. Correlation aside, the last 12 months split them widely, with HBAN ahead by 19.9 points (-21.6% versus -1.7%). Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.78. One caveat on sizing: CCL is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CCL vs HBAN: side by side
| CCL (Carnival Corporation) | HBAN (Huntington Bancshares) | |
|---|---|---|
| 1-year return | -21.6% | -1.7% |
| 5-year return | +7.3% | +36.8% |
| Volatility (ann.) | 46.5% | 29.8% |
| Beta vs S&P 500 | 1.72 | 1.07 |
| Max drawdown (3Y) | -42.3% | -30.0% |
| Market cap | $34.2B | $34.1B |
| P/E (trailing) | 11.5 | 13.1 |
| Dividend yield | 1.17% | 3.64% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | CCL | HBAN |
|---|---|---|
| 2022 | -59.9% | -4.4% |
| 2023 | +130.0% | -4.7% |
| 2024 | +34.4% | +33.7% |
| 2025 | +22.6% | +10.8% |
| 2026 | -17.0% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and HBAN good diversifiers for each other?
Only partially. A correlation of 0.63 means CCL and HBAN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CCL and HBAN?
The CCL/HBAN correlation stands at 0.63 on a 3-year window (1 year: 0.53, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is HBAN a good diversifier for CCL?
Only partially. A correlation of 0.63 means CCL and HBAN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccl-vs-hban.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccl-vs-hban/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCL correlations · HBAN correlations
