CFG vs HWC: Correlation
How closely do Citizens Financial Group (CFG) and Hancock Whitney Corporation (HWC) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and HWC?
Over the past 3 years, CFG and HWC moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.87 over 3. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 826.5 %².
By 3-year correlation, HWC places #15 of the 46 assets tracked against CFG. The last year tells two different stories: CFG led by 17.7 percentage points, +39.3% for CFG against +21.6% for HWC.
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.
CFG vs HWC: side by side
| CFG (Citizens Financial Group) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | +39.3% | +21.6% |
| 5-year return | +98.3% | +89.0% |
| Volatility (ann.) | 31.0% | 30.7% |
| Beta vs S&P 500 | 1.16 | 1.03 |
| Max drawdown (3Y) | -29.1% | -23.9% |
| Market cap | $29.6B | $6.0B |
| P/E (trailing) | 15.4 | 14.7 |
| Dividend yield | 2.55% | 2.53% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CFG | HWC |
|---|---|---|
| 2022 | -13.4% | -1.2% |
| 2023 | -11.0% | +3.3% |
| 2024 | +38.0% | +16.1% |
| 2025 | +38.6% | +20.0% |
| 2026 | +22.7% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and HWC good diversifiers for each other?
No. With a correlation of 0.87, CFG and HWC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CFG and HWC?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.80 over the last year and 0.84 over 5 years.
Is HWC a good diversifier for CFG?
No. With a correlation of 0.87, CFG and HWC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 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/cfg-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CFG correlations · HWC correlations
