FWONA vs HSBC: Correlation
Liberty Media Corporation - Series A Liberty Formula One (FWONA) and HSBC Holdings, plc. (HSBC) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWONA and HSBC?
Across a 3-year window, the weekly returns of FWONA and HSBC correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 245.8 %².
Few assets follow FWONA as closely as HSBC, which ranks #2 of 10 tracked partners. The last year tells two different stories: HSBC led by 61.9 percentage points, +4.7% for FWONA against +66.6% for HSBC.
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.
FWONA vs HSBC: side by side
| FWONA (Liberty Media Corporation - Series A Liberty Formula One) | HSBC (HSBC Holdings, plc.) | |
|---|---|---|
| 1-year return | +4.7% | +66.6% |
| 5-year return | +116.6% | +420.9% |
| Volatility (ann.) | 25.1% | 22.1% |
| Beta vs S&P 500 | 0.58 | 0.68 |
| Max drawdown (3Y) | -25.7% | -21.8% |
| Market cap | $23.6B | $352.5B |
| P/E (trailing) | 117.6 | 14.8 |
| Dividend yield | 0.00% | 0.72% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWONA | HSBC |
|---|---|---|
| 2022 | -10.0% | +7.8% |
| 2023 | +13.3% | +39.4% |
| 2024 | +44.9% | +34.5% |
| 2025 | +6.4% | +67.9% |
| 2026 | +5.3% | +35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWONA and HSBC good diversifiers for each other?
Reasonably. At 0.44, FWONA and HSBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FWONA and HSBC?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.48 over the last year and 0.39 over 5 years.
Is HSBC a good diversifier for FWONA?
Reasonably. At 0.44, FWONA and HSBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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
$ curl https://www.pairbook.io/api/v1/pairs/fwona-vs-hsbc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fwona-vs-hsbc/)
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Related comparisons
Hubs: FWONA correlations · HSBC correlations
