HOPE vs OCFC: Correlation
Measured on weekly returns over the past three years, Hope Bancorp, Inc. (HOPE) and OceanFirst Financial Corp. (OCFC) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and OCFC?
Over the past 3 years, HOPE and OCFC moved with a correlation of 0.88, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.88 over 3. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 826.7 %².
Within HOPE's tracked universe of 47 assets, OCFC comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HOPE ahead by 24.5 points (+30.9% versus +6.4%).
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 OCFC: side by side
| HOPE (Hope Bancorp, Inc.) | OCFC (OceanFirst Financial Corp.) | |
|---|---|---|
| 1-year return | +30.9% | +6.4% |
| 5-year return | +29.9% | +10.9% |
| Volatility (ann.) | 29.7% | 31.8% |
| Beta vs S&P 500 | 0.91 | 1.04 |
| Max drawdown (3Y) | -35.1% | -29.8% |
| Market cap | $1.8B | $1.8B |
| P/E (trailing) | 13.8 | 23.6 |
| Dividend yield | 4.02% | 4.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | OCFC |
|---|---|---|
| 2022 | -9.6% | -0.9% |
| 2023 | -0.1% | -14.2% |
| 2024 | +6.8% | +9.4% |
| 2025 | -5.9% | +3.9% |
| 2026 | +31.3% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and OCFC good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HOPE and OCFC?
The HOPE/OCFC correlation stands at 0.88 on a 3-year window (1 year: 0.79, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is OCFC a good diversifier for HOPE?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
A reading of 0.88 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/hope-vs-ocfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hope-vs-ocfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HOPE correlations · OCFC correlations
