HBT vs THFF: Correlation
HBT Financial, Inc. (HBT) and First Financial Corporation (THFF) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBT and THFF?
Over the past 3 years, HBT and THFF moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 642.0 %².
THFF is one of the assets that tracks HBT most closely: it ranks #3 out of the 17 assets we track against HBT. Neither side won the trailing year by much: +38.3% against +38.8%.
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.
HBT vs THFF: side by side
| HBT (HBT Financial, Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +38.3% | +38.8% |
| 5-year return | +160.4% | +135.2% |
| Volatility (ann.) | 26.7% | 28.2% |
| Beta vs S&P 500 | 0.80 | 0.81 |
| Max drawdown (3Y) | -18.7% | -20.2% |
| Market cap | $1.3B | $0.9B |
| P/E (trailing) | 15.2 | 11.1 |
| Dividend yield | 2.47% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBT | THFF |
|---|---|---|
| 2022 | +8.1% | +4.4% |
| 2023 | +11.7% | -2.6% |
| 2024 | +7.7% | +11.1% |
| 2025 | +22.2% | +36.2% |
| 2026 | +41.4% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBT and THFF good diversifiers for each other?
No: a correlation of 0.85 means HBT and THFF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HBT and THFF?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.81 over the last year and 0.75 over 5 years.
Is THFF a good diversifier for HBT?
No: a correlation of 0.85 means HBT and THFF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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/hbt-vs-thff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hbt-vs-thff/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HBT correlations · THFF correlations
