COLB vs HWC: Correlation
Measured on weekly returns over the past three years, Columbia Banking System, Inc. (COLB) and Hancock Whitney Corporation (HWC) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLB and HWC?
Across a 3-year window, the weekly returns of COLB and HWC correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 894.1 %².
Few assets follow COLB as closely as HWC, which ranks #2 of 13 tracked partners. Twelve-month performance is nearly a tie, at +18.3% for COLB and +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.
COLB vs HWC: side by side
| COLB (Columbia Banking System, Inc.) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | +18.3% | +21.6% |
| 5-year return | +9.4% | +89.0% |
| Volatility (ann.) | 35.2% | 30.7% |
| Beta vs S&P 500 | 1.01 | 1.03 |
| Max drawdown (3Y) | -36.4% | -23.9% |
| Market cap | $8.7B | $6.0B |
| P/E (trailing) | 12.1 | 14.7 |
| Dividend yield | 4.79% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COLB | HWC |
|---|---|---|
| 2022 | -4.3% | -1.2% |
| 2023 | -5.9% | +3.3% |
| 2024 | +8.1% | +16.1% |
| 2025 | +9.4% | +20.0% |
| 2026 | +12.6% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLB and HWC good diversifiers for each other?
No. With a correlation of 0.83, COLB and HWC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between COLB and HWC?
The COLB/HWC correlation stands at 0.83 on a 3-year window (1 year: 0.87, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is HWC a good diversifier for COLB?
No. With a correlation of 0.83, COLB and HWC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
A reading of 0.83 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/colb-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/colb-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COLB correlations · HWC correlations
