HBAN vs WBD: Correlation
How closely do Huntington Bancshares (HBAN) and Warner Bros. Discovery (WBD) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and WBD?
Over the past 3 years, HBAN and WBD moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 682.8 %².
By 3-year correlation, WBD places #44 of the 55 assets tracked against HBAN. Correlation aside, the last 12 months split them widely, with WBD ahead by 139.4 points (-1.7% versus +137.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.18 to 0.73. One caveat on sizing: WBD is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WBD: side by side
| HBAN (Huntington Bancshares) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -1.7% | +137.7% |
| 5-year return | +36.8% | +3.7% |
| Volatility (ann.) | 29.8% | 54.7% |
| Beta vs S&P 500 | 1.07 | 1.19 |
| Max drawdown (3Y) | -30.0% | -48.9% |
| Market cap | $34.1B | $72.4B |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 3.64% | 0.00% |
| Sector / category | Financials | Communication Services |
Year-by-year returns
| Year | HBAN | WBD |
|---|---|---|
| 2022 | -4.4% | -59.7% |
| 2023 | -4.7% | +20.0% |
| 2024 | +33.7% | -7.1% |
| 2025 | +10.8% | +172.7% |
| 2026 | -0.9% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and WBD good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HBAN and WBD?
The HBAN/WBD correlation stands at 0.42 on a 3-year window (1 year: 0.22, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is WBD a good diversifier for HBAN?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hban-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HBAN correlations · WBD correlations
