HOPE vs RNST: Correlation
Hope Bancorp, Inc. (HOPE) and Renasant Corporation (RNST) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and RNST?
Across a 3-year window, the weekly returns of HOPE and RNST correlate at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.88 over 3. Stretching to 5 years gives 0.82, with an annualized covariance of 790.9 %².
Among the 47 assets we track against HOPE, RNST ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HOPE ahead by 23.8 points (+30.9% versus +7.1%).
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 RNST: side by side
| HOPE (Hope Bancorp, Inc.) | RNST (Renasant Corporation) | |
|---|---|---|
| 1-year return | +30.9% | +7.1% |
| 5-year return | +29.9% | +34.8% |
| Volatility (ann.) | 29.7% | 30.4% |
| Beta vs S&P 500 | 0.91 | 0.95 |
| Max drawdown (3Y) | -35.1% | -29.3% |
| Market cap | $1.8B | $3.8B |
| P/E (trailing) | 13.8 | 12.1 |
| Dividend yield | 4.02% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | RNST |
|---|---|---|
| 2022 | -9.6% | +1.7% |
| 2023 | -0.1% | -7.7% |
| 2024 | +6.8% | +9.1% |
| 2025 | -5.9% | +1.0% |
| 2026 | +31.3% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and RNST good diversifiers for each other?
No. With a correlation of 0.88, HOPE and RNST move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HOPE and RNST?
The HOPE/RNST correlation stands at 0.88 on a 3-year window (1 year: 0.87, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is RNST a good diversifier for HOPE?
No. With a correlation of 0.88, HOPE and RNST move nearly in lockstep, so holding both adds very little diversification.
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.
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Related comparisons
Hubs: HOPE correlations · RNST correlations
