HOPE vs PNFP: Correlation
Measured on weekly returns over the past three years, Hope Bancorp, Inc. (HOPE) and Pinnacle Financial Partners, Inc. (PNFP) 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 PNFP?
Across a 3-year window, the weekly returns of HOPE and PNFP correlate at 0.86, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.86 over 3. Stretching to 5 years gives 0.81, with an annualized covariance of 897.4 %².
Within HOPE's tracked universe of 47 assets, PNFP comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HOPE outperformed by 24.5 percentage points (+30.9% for HOPE against +6.4% for PNFP).
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 PNFP: side by side
| HOPE (Hope Bancorp, Inc.) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +6.4% |
| 5-year return | +29.9% | +12.0% |
| Volatility (ann.) | 29.7% | 35.3% |
| Beta vs S&P 500 | 0.91 | 1.22 |
| Max drawdown (3Y) | -35.1% | -35.8% |
| Market cap | $1.8B | $15.3B |
| P/E (trailing) | 13.8 | 13.9 |
| Dividend yield | 4.02% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | PNFP |
|---|---|---|
| 2022 | -9.6% | -22.3% |
| 2023 | -0.1% | +20.5% |
| 2024 | +6.8% | +32.4% |
| 2025 | -5.9% | -15.8% |
| 2026 | +31.3% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and PNFP good diversifiers for each other?
No. With a correlation of 0.86, HOPE and PNFP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HOPE and PNFP?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.78 over the last year and 0.81 over 5 years.
Is PNFP a good diversifier for HOPE?
No. With a correlation of 0.86, HOPE and PNFP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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.
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Related comparisons
Hubs: HOPE correlations · PNFP correlations
