CPAY vs HBAN: Correlation
How closely do Corpay (CPAY) and Huntington Bancshares (HBAN) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and HBAN?
On 3 years of weekly data the CPAY/HBAN correlation comes out at 0.65, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.65 over 3 years. The 5-year figure is 0.55, and annualized covariance runs at 611.5 %².
Within CPAY's tracked universe of 32 assets, HBAN comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CPAY outperformed by 25.8 percentage points (+24.1% for CPAY against -1.7% for HBAN). This link changes with the market regime, having swung between 0.29 and 0.84 on a rolling one-year basis.
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.
CPAY vs HBAN: side by side
| CPAY (Corpay) | HBAN (Huntington Bancshares) | |
|---|---|---|
| 1-year return | +24.1% | -1.7% |
| 5-year return | +55.2% | +36.8% |
| Volatility (ann.) | 31.7% | 29.8% |
| Beta vs S&P 500 | 1.22 | 1.07 |
| Max drawdown (3Y) | -34.5% | -30.0% |
| Market cap | $26.5B | $34.1B |
| P/E (trailing) | 24.7 | 13.1 |
| Dividend yield | 0.00% | 3.64% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CPAY | HBAN |
|---|---|---|
| 2022 | -17.9% | -4.4% |
| 2023 | +53.9% | -4.7% |
| 2024 | +19.7% | +33.7% |
| 2025 | -11.1% | +10.8% |
| 2026 | +34.1% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and HBAN good diversifiers for each other?
Only partially. A correlation of 0.65 means CPAY 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 CPAY and HBAN?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.53 over the last year and 0.55 over 5 years.
Is HBAN a good diversifier for CPAY?
Only partially. A correlation of 0.65 means CPAY 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 0.65 mean?
A reading of 0.65 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/cpay-vs-hban.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpay-vs-hban/)
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Related comparisons
Hubs: CPAY correlations · HBAN correlations
