HBNC vs PKBK: Correlation
Horizon Bancorp, Inc. (HBNC) and Parke Bancorp, Inc. (PKBK) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBNC and PKBK?
Over the past 3 years, HBNC and PKBK moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 719.3 %².
Among the 17 assets we track against HBNC, PKBK ranks #8 by 3-year correlation. The last year tells two different stories: PKBK led by 30.0 percentage points, +22.1% for HBNC against +52.1% for PKBK.
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.
HBNC vs PKBK: side by side
| HBNC (Horizon Bancorp, Inc.) | PKBK (Parke Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +22.1% | +52.1% |
| 5-year return | +36.0% | +97.5% |
| Volatility (ann.) | 32.7% | 27.2% |
| Beta vs S&P 500 | 0.96 | 0.68 |
| Max drawdown (3Y) | -29.6% | -26.3% |
| Market cap | $1.0B | $0.4B |
| P/E (trailing) | – | 8.8 |
| Dividend yield | 3.27% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBNC | PKBK |
|---|---|---|
| 2022 | -25.3% | +0.4% |
| 2023 | +0.4% | +1.7% |
| 2024 | +18.2% | +5.4% |
| 2025 | +9.8% | +26.6% |
| 2026 | +18.3% | +36.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBNC and PKBK good diversifiers for each other?
No. With a correlation of 0.81, HBNC and PKBK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HBNC and PKBK?
The HBNC/PKBK correlation stands at 0.81 on a 3-year window (1 year: 0.81, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is PKBK a good diversifier for HBNC?
No. With a correlation of 0.81, HBNC and PKBK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: HBNC correlations · PKBK correlations
