EGHT vs HWC: Correlation
How closely do 8x8 Inc (EGHT) and Hancock Whitney Corporation (HWC) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGHT and HWC?
Over the past 3 years, EGHT and HWC moved with a correlation of 0.57, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.57 over 3 years. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1395.2 %².
In EGHT's tracked universe of 15 assets, HWC sits right near the top at #2. Correlation aside, the last 12 months split them widely, with HWC ahead by 16.4 points (+5.2% versus +21.6%). Risk is not evenly split, since EGHT carries 2.6 times the volatility of the other side.
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.
EGHT vs HWC: side by side
| EGHT (8x8 Inc) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | +5.2% | +21.6% |
| 5-year return | -91.6% | +89.0% |
| Volatility (ann.) | 80.2% | 30.7% |
| Beta vs S&P 500 | 2.07 | 1.03 |
| Max drawdown (3Y) | -59.5% | -23.9% |
| Market cap | $0.3B | $6.0B |
| P/E (trailing) | 67.0 | 14.7 |
| Dividend yield | 0.00% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGHT | HWC |
|---|---|---|
| 2022 | -74.2% | -1.2% |
| 2023 | -12.5% | +3.3% |
| 2024 | -29.4% | +16.1% |
| 2025 | -26.2% | +20.0% |
| 2026 | +2.0% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and HWC good diversifiers for each other?
Only partially. A correlation of 0.57 means EGHT and HWC 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 EGHT and HWC?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.31 over the last year and 0.51 over 5 years.
Is HWC a good diversifier for EGHT?
Only partially. A correlation of 0.57 means EGHT and HWC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/eght-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eght-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EGHT correlations · HWC correlations
