GBX vs HBAN: Correlation
Measured on weekly returns over the past three years, Greenbrier Companies, Inc. (The) (GBX) and Huntington Bancshares (HBAN) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBX and HBAN?
On 3 years of weekly data the GBX/HBAN correlation comes out at 0.53, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.53). The 5-year figure is 0.48, and annualized covariance runs at 575.6 %².
Among the 11 assets we track against GBX, HBAN ranks #5 by 3-year correlation. Neither side won the trailing year by much: +0.5% against -1.7%.
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.
GBX vs HBAN: side by side
| GBX (Greenbrier Companies, Inc. (The)) | HBAN (Huntington Bancshares) | |
|---|---|---|
| 1-year return | +0.5% | -1.7% |
| 5-year return | +19.2% | +36.8% |
| Volatility (ann.) | 36.2% | 29.8% |
| Beta vs S&P 500 | 0.71 | 1.07 |
| Max drawdown (3Y) | -43.7% | -30.0% |
| Market cap | $1.4B | $34.1B |
| P/E (trailing) | 13.6 | 13.1 |
| Dividend yield | 2.81% | 3.64% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | GBX | HBAN |
|---|---|---|
| 2022 | -24.8% | -4.4% |
| 2023 | +36.3% | -4.7% |
| 2024 | +41.3% | +33.7% |
| 2025 | -21.3% | +10.8% |
| 2026 | +0.7% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBX and HBAN good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GBX and HBAN?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.36 over the last year and 0.48 over 5 years.
Is HBAN a good diversifier for GBX?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/gbx-vs-hban.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gbx-vs-hban/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBX correlations · HBAN correlations
