HOPE vs WAFD: Correlation
How closely do Hope Bancorp, Inc. (HOPE) and WaFd, Inc. (WAFD) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and WAFD?
Across a 3-year window, the weekly returns of HOPE and WAFD correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.80, with an annualized covariance of 709.8 %².
Within HOPE's tracked universe of 47 assets, WAFD comes in at #22 by 3-year correlation. Over the last 12 months HOPE came out ahead by 14.0 percentage points (+30.9% against +16.9%).
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 WAFD: side by side
| HOPE (Hope Bancorp, Inc.) | WAFD (WaFd, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +16.9% |
| 5-year return | +29.9% | +28.1% |
| Volatility (ann.) | 29.7% | 28.8% |
| Beta vs S&P 500 | 0.91 | 0.70 |
| Max drawdown (3Y) | -35.1% | -34.6% |
| Market cap | $1.8B | $2.7B |
| P/E (trailing) | 13.8 | 11.4 |
| Dividend yield | 4.02% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | WAFD |
|---|---|---|
| 2022 | -9.6% | +3.4% |
| 2023 | -0.1% | +1.7% |
| 2024 | +6.8% | +1.1% |
| 2025 | -5.9% | +3.0% |
| 2026 | +31.3% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and WAFD good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HOPE and WAFD?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.76 over the last year and 0.80 over 5 years.
Is WAFD a good diversifier for HOPE?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 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-wafd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hope-vs-wafd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOPE correlations · WAFD correlations
