HOPE vs INDB: Correlation
Measured on weekly returns over the past three years, Hope Bancorp, Inc. (HOPE) and Independent Bank Corp. (INDB) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and INDB?
On 3 years of weekly data the HOPE/INDB correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 786.7 %².
By 3-year correlation, INDB places #11 of the 47 assets tracked against HOPE. On 12-month performance HOPE holds a 12.6-point edge, +30.9% against +18.3%.
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.
HOPE vs INDB: side by side
| HOPE (Hope Bancorp, Inc.) | INDB (Independent Bank Corp.) | |
|---|---|---|
| 1-year return | +30.9% | +18.3% |
| 5-year return | +29.9% | +28.6% |
| Volatility (ann.) | 29.7% | 30.9% |
| Beta vs S&P 500 | 0.91 | 0.85 |
| Max drawdown (3Y) | -35.1% | -30.8% |
| Market cap | $1.8B | $3.9B |
| P/E (trailing) | 13.8 | 14.9 |
| Dividend yield | 4.02% | 2.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | INDB |
|---|---|---|
| 2022 | -9.6% | +6.3% |
| 2023 | -0.1% | -18.9% |
| 2024 | +6.8% | +1.6% |
| 2025 | -5.9% | +17.9% |
| 2026 | +31.3% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and INDB good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HOPE and INDB?
As of 2026-08-27, the correlation of weekly returns between HOPE and INDB is 0.86 over 3 years, 0.84 over 1 year and 0.82 over 5 years.
Is INDB a good diversifier for HOPE?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 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/hope-vs-indb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hope-vs-indb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOPE correlations · INDB correlations
