FRAF vs HNVR: Correlation
How closely do Franklin Financial Services Corporation (FRAF) and Hanover Bancorp, Inc. (HNVR) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRAF and HNVR?
Over the past 3 years, FRAF and HNVR moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 403.7 %².
Few assets follow FRAF as closely as HNVR, which ranks #1 of 15 tracked partners. The trailing year gives FRAF the advantage: +36.8% versus +23.0%, a 13.8-point spread.
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.
FRAF vs HNVR: side by side
| FRAF (Franklin Financial Services Corporation) | HNVR (Hanover Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +36.8% | +23.0% |
| 5-year return | +133.8% | +40.1% |
| Volatility (ann.) | 31.7% | 27.1% |
| Beta vs S&P 500 | 0.22 | 0.50 |
| Max drawdown (3Y) | -25.5% | -28.2% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 11.3 | 21.3 |
| Dividend yield | 2.14% | 1.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRAF | HNVR |
|---|---|---|
| 2022 | +13.5% | – |
| 2023 | -8.8% | -11.6% |
| 2024 | -1.4% | +33.7% |
| 2025 | +73.5% | +2.0% |
| 2026 | +25.9% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRAF and HNVR good diversifiers for each other?
Reasonably. At 0.47, FRAF and HNVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FRAF and HNVR?
The FRAF/HNVR correlation stands at 0.47 on a 3-year window (1 year: 0.38, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is HNVR a good diversifier for FRAF?
Reasonably. At 0.47, FRAF and HNVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/fraf-vs-hnvr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fraf-vs-hnvr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRAF correlations · HNVR correlations
