HBAN vs KEY: Correlation
Huntington Bancshares (HBAN) and KeyCorp (KEY) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and KEY?
On 3 years of weekly data the HBAN/KEY correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.90 over 1 year against 0.88 over 3. The 5-year figure is 0.88, and annualized covariance runs at 842.8 %².
By 3-year correlation, KEY places #7 of the 55 assets tracked against HBAN. Their recent paths diverged sharply: over the last 12 months KEY outperformed by 20.1 percentage points (-1.7% for HBAN against +18.4% for KEY). The rolling one-year correlation stayed in a tight band between 0.82 and 0.95 over the past three years, which points to a structural rather than episodic relationship.
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 KEY: side by side
| HBAN (Huntington Bancshares) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | -1.7% | +18.4% |
| 5-year return | +36.8% | +38.0% |
| Volatility (ann.) | 29.8% | 32.1% |
| Beta vs S&P 500 | 1.07 | 1.25 |
| Max drawdown (3Y) | -30.0% | -32.2% |
| Market cap | $34.1B | $23.5B |
| P/E (trailing) | 13.1 | 13.0 |
| Dividend yield | 3.64% | 3.71% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | HBAN | KEY |
|---|---|---|
| 2022 | -4.4% | -21.7% |
| 2023 | -4.7% | -11.5% |
| 2024 | +33.7% | +25.3% |
| 2025 | +10.8% | +26.2% |
| 2026 | -0.9% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and KEY good diversifiers for each other?
No: a correlation of 0.88 means HBAN and KEY tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HBAN and KEY?
The HBAN/KEY correlation stands at 0.88 on a 3-year window (1 year: 0.90, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is KEY a good diversifier for HBAN?
No: a correlation of 0.88 means HBAN and KEY tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hban-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HBAN correlations · KEY correlations
