HBAN vs USB: Correlation
Measured on weekly returns over the past three years, Huntington Bancshares (HBAN) and U.S. Bancorp (USB) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and USB?
On 3 years of weekly data the HBAN/USB correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.89) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 713.6 %².
Among the 55 assets we track against HBAN, USB ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months USB outperformed by 34.8 percentage points (-1.7% for HBAN against +33.1% for USB). The link looks structural: the rolling one-year correlation barely moved, holding between 0.79 and 0.94.
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 USB: side by side
| HBAN (Huntington Bancshares) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | -1.7% | +33.1% |
| 5-year return | +36.8% | +36.0% |
| Volatility (ann.) | 29.8% | 27.3% |
| Beta vs S&P 500 | 1.07 | 1.09 |
| Max drawdown (3Y) | -30.0% | -30.6% |
| Market cap | $34.1B | $97.2B |
| P/E (trailing) | 13.1 | 12.5 |
| Dividend yield | 3.64% | 3.31% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | HBAN | USB |
|---|---|---|
| 2022 | -4.4% | -19.1% |
| 2023 | -4.7% | +4.8% |
| 2024 | +33.7% | +15.6% |
| 2025 | +10.8% | +16.5% |
| 2026 | -0.9% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and USB good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HBAN and USB?
As of 2026-08-27, the correlation of weekly returns between HBAN and USB is 0.88 over 3 years, 0.89 over 1 year and 0.86 over 5 years.
Is USB a good diversifier for HBAN?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 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/hban-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hban-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBAN correlations · USB correlations
