HOPE vs MCHB: Correlation
How closely do Hope Bancorp, Inc. (HOPE) and Mechanics Bancorp (MCHB) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and MCHB?
Across a 3-year window, the weekly returns of HOPE and MCHB correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 994.4 %².
Among the 47 assets we track against HOPE, MCHB ranks #38 by 3-year correlation. Twelve-month performance is nearly a tie, at +30.9% for HOPE and +26.0% for MCHB. One caveat on sizing: MCHB is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MCHB: side by side
| HOPE (Hope Bancorp, Inc.) | MCHB (Mechanics Bancorp) | |
|---|---|---|
| 1-year return | +30.9% | +26.0% |
| 5-year return | +29.9% | -51.9% |
| Volatility (ann.) | 29.7% | 63.9% |
| Beta vs S&P 500 | 0.91 | 1.12 |
| Max drawdown (3Y) | -35.1% | -56.1% |
| Market cap | $1.8B | $3.6B |
| P/E (trailing) | 13.8 | 12.3 |
| Dividend yield | 4.02% | 8.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | MCHB |
|---|---|---|
| 2022 | -9.6% | -44.8% |
| 2023 | -0.1% | -60.6% |
| 2024 | +6.8% | +10.9% |
| 2025 | -5.9% | +29.9% |
| 2026 | +31.3% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and MCHB good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HOPE and MCHB?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.57 over the last year and 0.57 over 5 years.
Is MCHB a good diversifier for HOPE?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/hope-vs-mchb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hope-vs-mchb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOPE correlations · MCHB correlations
