FHB vs IHRT: Correlation
Measured on weekly returns over the past three years, First Hawaiian, Inc. (FHB) and iHeartMedia, Inc. (IHRT) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHB and IHRT?
Over the past 3 years, FHB and IHRT moved with a correlation of 0.42, which is moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 1045.4 %².
Within FHB's tracked universe of 18 assets, IHRT comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IHRT outperformed by 17.3 percentage points (+3.3% for FHB against +20.6% for IHRT). Note the risk asymmetry: IHRT runs 3.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 IHRT: side by side
| FHB (First Hawaiian, Inc.) | IHRT (iHeartMedia, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +20.6% |
| 5-year return | +16.4% | -89.2% |
| Volatility (ann.) | 25.6% | 97.6% |
| Beta vs S&P 500 | 0.77 | 1.73 |
| Max drawdown (3Y) | -24.3% | -77.2% |
| Market cap | $3.1B | $0.4B |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 4.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHB | IHRT |
|---|---|---|
| 2022 | -0.9% | -70.9% |
| 2023 | -7.6% | -56.4% |
| 2024 | +18.7% | -25.8% |
| 2025 | +1.6% | +110.1% |
| 2026 | +5.1% | -35.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHB and IHRT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FHB and IHRT?
The FHB/IHRT correlation stands at 0.42 on a 3-year window (1 year: 0.41, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is IHRT a good diversifier for FHB?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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-ihrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fhb-vs-ihrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHB correlations · IHRT correlations
