HIFS vs VLY: Correlation
Measured on weekly returns over the past three years, Hingham Institution for Savings (HIFS) and Valley National Bancorp (VLY) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIFS and VLY?
On 3 years of weekly data the HIFS/VLY correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 926.0 %².
Few assets follow HIFS as closely as VLY, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months VLY outperformed by 35.3 percentage points (+2.6% for HIFS against +37.9% for VLY).
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.
HIFS vs VLY: side by side
| HIFS (Hingham Institution for Savings) | VLY (Valley National Bancorp) | |
|---|---|---|
| 1-year return | +2.6% | +37.9% |
| 5-year return | -2.0% | +32.9% |
| Volatility (ann.) | 40.5% | 32.8% |
| Beta vs S&P 500 | 1.05 | 0.93 |
| Max drawdown (3Y) | -27.8% | -39.5% |
| Market cap | $0.7B | $7.7B |
| P/E (trailing) | 10.0 | 11.9 |
| Dividend yield | 0.84% | 3.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIFS | VLY |
|---|---|---|
| 2022 | -33.6% | -14.6% |
| 2023 | -28.6% | +0.7% |
| 2024 | +31.9% | -11.9% |
| 2025 | +12.8% | +34.8% |
| 2026 | +6.0% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIFS and VLY good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HIFS and VLY?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.69 over the last year and 0.63 over 5 years.
Is VLY a good diversifier for HIFS?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hifs-vs-vly.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hifs-vs-vly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIFS correlations · VLY correlations
