HOPE vs WASH: Correlation
Hope Bancorp, Inc. (HOPE) and Washington Trust Bancorp, Inc. (WASH) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOPE and WASH?
Over the past 3 years, HOPE and WASH moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.71) runs below the 3-year figure (0.84). Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 867.5 %².
Within HOPE's tracked universe of 47 assets, WASH comes in at #20 by 3-year correlation. The trailing year gives WASH the advantage: +30.9% versus +40.1%, a 9.2-point spread.
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 WASH: side by side
| HOPE (Hope Bancorp, Inc.) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +40.1% |
| 5-year return | +29.9% | +4.8% |
| Volatility (ann.) | 29.7% | 34.9% |
| Beta vs S&P 500 | 0.91 | 1.04 |
| Max drawdown (3Y) | -35.1% | -32.3% |
| Market cap | $1.8B | $0.8B |
| P/E (trailing) | 13.8 | 13.7 |
| Dividend yield | 4.02% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOPE | WASH |
|---|---|---|
| 2022 | -9.6% | -12.5% |
| 2023 | -0.1% | -26.1% |
| 2024 | +6.8% | +2.7% |
| 2025 | -5.9% | +1.7% |
| 2026 | +31.3% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOPE and WASH good diversifiers for each other?
No: a correlation of 0.84 means HOPE and WASH tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HOPE and WASH?
The HOPE/WASH correlation stands at 0.84 on a 3-year window (1 year: 0.71, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for HOPE?
No: a correlation of 0.84 means HOPE and WASH tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hope-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HOPE correlations · WASH correlations
