FHB vs HOPE: Correlation
First Hawaiian, Inc. (FHB) and Hope Bancorp, Inc. (HOPE) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHB and HOPE?
Across a 3-year window, the weekly returns of FHB and HOPE correlate at 0.86, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 654.1 %².
Within FHB's tracked universe of 18 assets, HOPE comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HOPE outperformed by 27.6 percentage points (+3.3% for FHB against +30.9% for HOPE).
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.
FHB vs HOPE: side by side
| FHB (First Hawaiian, Inc.) | HOPE (Hope Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +30.9% |
| 5-year return | +16.4% | +29.9% |
| Volatility (ann.) | 25.6% | 29.7% |
| Beta vs S&P 500 | 0.77 | 0.91 |
| Max drawdown (3Y) | -24.3% | -35.1% |
| Market cap | $3.1B | $1.8B |
| P/E (trailing) | 11.3 | 13.8 |
| Dividend yield | 4.01% | 4.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHB | HOPE |
|---|---|---|
| 2022 | -0.9% | -9.6% |
| 2023 | -7.6% | -0.1% |
| 2024 | +18.7% | +6.8% |
| 2025 | +1.6% | -5.9% |
| 2026 | +5.1% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHB and HOPE good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FHB and HOPE?
The FHB/HOPE correlation stands at 0.86 on a 3-year window (1 year: 0.82, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is HOPE a good diversifier for FHB?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fhb-vs-hope.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fhb-vs-hope/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHB correlations · HOPE correlations
