ESQ vs HBT: Correlation
How closely do Esquire Financial Holdings, Inc. (ESQ) and HBT Financial, Inc. (HBT) 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 ESQ and HBT?
Over the past 3 years, ESQ and HBT moved with a correlation of 0.65, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.65 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 505.4 %².
Within ESQ's tracked universe of 10 assets, HBT comes in at #4 by 3-year correlation. The last year tells two different stories: HBT led by 23.8 percentage points, +14.5% for ESQ against +38.3% for HBT.
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.
ESQ vs HBT: side by side
| ESQ (Esquire Financial Holdings, Inc.) | HBT (HBT Financial, Inc.) | |
|---|---|---|
| 1-year return | +14.5% | +38.3% |
| 5-year return | +359.7% | +160.4% |
| Volatility (ann.) | 29.3% | 26.7% |
| Beta vs S&P 500 | 0.60 | 0.80 |
| Max drawdown (3Y) | -20.7% | -18.7% |
| Market cap | $1.4B | $1.3B |
| P/E (trailing) | 18.6 | 15.2 |
| Dividend yield | 0.67% | 2.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESQ | HBT |
|---|---|---|
| 2022 | +38.3% | +8.1% |
| 2023 | +16.7% | +11.7% |
| 2024 | +60.9% | +7.7% |
| 2025 | +29.4% | +22.2% |
| 2026 | +12.4% | +41.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESQ and HBT good diversifiers for each other?
Only partially. A correlation of 0.65 means ESQ and HBT 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 ESQ and HBT?
The ESQ/HBT correlation stands at 0.65 on a 3-year window (1 year: 0.65, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is HBT a good diversifier for ESQ?
Only partially. A correlation of 0.65 means ESQ and HBT 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?
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
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Related comparisons
Hubs: ESQ correlations · HBT correlations
