HBAN vs HWC: Correlation
Measured on weekly returns over the past three years, Huntington Bancshares (HBAN) and Hancock Whitney Corporation (HWC) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and HWC?
Over the past 3 years, HBAN and HWC moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 790.8 %².
Among the 55 assets we track against HBAN, HWC ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HWC outperformed by 23.3 percentage points (-1.7% for HBAN against +21.6% for HWC).
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.
HBAN vs HWC: side by side
| HBAN (Huntington Bancshares) | HWC (Hancock Whitney Corporation) | |
|---|---|---|
| 1-year return | -1.7% | +21.6% |
| 5-year return | +36.8% | +89.0% |
| Volatility (ann.) | 29.8% | 30.7% |
| Beta vs S&P 500 | 1.07 | 1.03 |
| Max drawdown (3Y) | -30.0% | -23.9% |
| Market cap | $34.1B | $6.0B |
| P/E (trailing) | 13.1 | 14.7 |
| Dividend yield | 3.64% | 2.53% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HBAN | HWC |
|---|---|---|
| 2022 | -4.4% | -1.2% |
| 2023 | -4.7% | +3.3% |
| 2024 | +33.7% | +16.1% |
| 2025 | +10.8% | +20.0% |
| 2026 | -0.9% | +19.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and HWC good diversifiers for each other?
No: a correlation of 0.87 means HBAN and HWC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HBAN and HWC?
As of 2026-08-27, the correlation of weekly returns between HBAN and HWC is 0.87 over 3 years, 0.81 over 1 year and 0.85 over 5 years.
Is HWC a good diversifier for HBAN?
No: a correlation of 0.87 means HBAN and HWC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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/hban-vs-hwc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hban-vs-hwc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HBAN correlations · HWC correlations
