HNVR vs SMBK: Correlation
How closely do Hanover Bancorp, Inc. (HNVR) and SmartFinancial, Inc. (SMBK) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNVR and SMBK?
On 3 years of weekly data the HNVR/SMBK correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 419.5 %².
Few assets follow HNVR as closely as SMBK, which ranks #1 of 13 tracked partners. The trailing year gives SMBK the advantage: +23.0% versus +37.6%, a 14.6-point spread.
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.
HNVR vs SMBK: side by side
| HNVR (Hanover Bancorp, Inc.) | SMBK (SmartFinancial, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | +37.6% |
| 5-year return | +40.1% | +113.7% |
| Volatility (ann.) | 27.1% | 28.9% |
| Beta vs S&P 500 | 0.50 | 0.84 |
| Max drawdown (3Y) | -28.2% | -26.4% |
| Market cap | $0.2B | $0.9B |
| P/E (trailing) | 21.3 | 14.9 |
| Dividend yield | 1.48% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNVR | SMBK |
|---|---|---|
| 2022 | – | +1.6% |
| 2023 | -11.6% | -9.7% |
| 2024 | +33.7% | +28.1% |
| 2025 | +2.0% | +20.5% |
| 2026 | +18.5% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNVR and SMBK good diversifiers for each other?
To a limited degree. At 0.54 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 HNVR and SMBK?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.53 over the last year and 0.40 over 5 years.
Is SMBK a good diversifier for HNVR?
To a limited degree. At 0.54 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 0.54 mean?
On the −1 to +1 scale, 0.54 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/hnvr-vs-smbk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hnvr-vs-smbk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HNVR correlations · SMBK correlations
