HBAN vs TGT: Correlation
How closely do Huntington Bancshares (HBAN) and Target Corporation (TGT) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and TGT?
Over the past 3 years, HBAN and TGT moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 447.5 %².
Among the 55 assets we track against HBAN, TGT ranks #42 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TGT outperformed by 77.9 percentage points (-1.7% for HBAN against +76.2% for TGT). Across three years, the rolling one-year figure varied moderately, from 0.22 to 0.62.
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 TGT: side by side
| HBAN (Huntington Bancshares) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | -1.7% | +76.2% |
| 5-year return | +36.8% | -22.2% |
| Volatility (ann.) | 29.8% | 32.0% |
| Beta vs S&P 500 | 1.07 | 0.62 |
| Max drawdown (3Y) | -30.0% | -49.8% |
| Market cap | $34.1B | $75.4B |
| P/E (trailing) | 13.1 | 17.2 |
| Dividend yield | 3.64% | 2.78% |
| Sector / category | Financials | Consumer Staples |
Year-by-year returns
| Year | HBAN | TGT |
|---|---|---|
| 2022 | -4.4% | -34.2% |
| 2023 | -4.7% | -1.4% |
| 2024 | +33.7% | -2.3% |
| 2025 | +10.8% | -24.5% |
| 2026 | -0.9% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and TGT good diversifiers for each other?
Reasonably. At 0.47, HBAN and TGT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HBAN and TGT?
The HBAN/TGT correlation stands at 0.47 on a 3-year window (1 year: 0.47, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is TGT a good diversifier for HBAN?
Reasonably. At 0.47, HBAN and TGT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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.
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Related comparisons
Hubs: HBAN correlations · TGT correlations
