FHN vs HWC: Correlation
Measured on weekly returns over the past three years, First Horizon Corporation (FHN) and Hancock Whitney Corporation (HWC) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHN and HWC?
Across a 3-year window, the weekly returns of FHN and HWC correlate at 0.83, 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 0.62, with an annualized covariance of 779.3 %².
By 3-year correlation, HWC places #5 of the 17 assets tracked against FHN. Over the last 12 months HWC came out ahead by 11.7 percentage points (+9.9% against +21.6%).
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.
FHN vs HWC: side by side
| FHN (First Horizon Corporation) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | +9.9% | +21.6% |
| 5-year return | +77.9% | +89.0% |
| Volatility (ann.) | 30.5% | 30.7% |
| Beta vs S&P 500 | 1.08 | 1.03 |
| Max drawdown (3Y) | -27.1% | -23.9% |
| Market cap | $11.6B | $6.0B |
| P/E (trailing) | 11.8 | 14.7 |
| Dividend yield | 2.60% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHN | HWC |
|---|---|---|
| 2022 | +53.9% | -1.2% |
| 2023 | -39.4% | +3.3% |
| 2024 | +47.7% | +16.1% |
| 2025 | +22.1% | +20.0% |
| 2026 | +3.7% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHN and HWC good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FHN and HWC?
The FHN/HWC correlation stands at 0.83 on a 3-year window (1 year: 0.82, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is HWC a good diversifier for FHN?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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/fhn-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhn-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHN correlations · HWC correlations
