HBAN vs RCL: Correlation
Huntington Bancshares (HBAN) and Royal Caribbean Group (RCL) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and RCL?
Over the past 3 years, HBAN and RCL moved with a correlation of 0.59, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.59 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 725.3 %².
Within HBAN's tracked universe of 55 assets, RCL comes in at #33 by 3-year correlation. The last year tells two different stories: HBAN led by 17.6 percentage points, -1.7% for HBAN against -19.3% for RCL. The relationship is regime-dependent: the rolling one-year correlation swung between 0.28 and 0.79 over the past three years, so this pair behaves very differently depending on the market environment.
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 RCL: side by side
| HBAN (Huntington Bancshares) | RCL (Royal Caribbean Group) | |
|---|---|---|
| 1-year return | -1.7% | -19.3% |
| 5-year return | +36.8% | +257.6% |
| Volatility (ann.) | 29.8% | 41.3% |
| Beta vs S&P 500 | 1.07 | 1.46 |
| Max drawdown (3Y) | -30.0% | -35.0% |
| Market cap | $34.1B | $76.2B |
| P/E (trailing) | 13.1 | 17.9 |
| Dividend yield | 3.64% | 1.72% |
| Sector / category | Financials | Consumer Discretionary |
Year-by-year returns
| Year | HBAN | RCL |
|---|---|---|
| 2022 | -4.4% | -35.7% |
| 2023 | -4.7% | +162.0% |
| 2024 | +33.7% | +79.0% |
| 2025 | +10.8% | +22.5% |
| 2026 | -0.9% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and RCL good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HBAN and RCL?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.42 over the last year and 0.49 over 5 years.
Is RCL a good diversifier for HBAN?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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-rcl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hban-vs-rcl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HBAN correlations · RCL correlations
