HSBC vs ING: Correlation
Measured on weekly returns over the past three years, HSBC Holdings, plc. (HSBC) and ING Group, N.V. (ING) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSBC and ING?
Over the past 3 years, HSBC and ING moved with a correlation of 0.64, which is strong. The past 12 months show a tighter link (0.76) than the 3-year average (0.64). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 390.2 %².
ING is one of the assets that tracks HSBC most closely: it ranks #3 out of the 13 assets we track against HSBC. On 12-month performance HSBC holds a 14.1-point edge, +66.6% against +52.5%.
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.
HSBC vs ING: side by side
| HSBC (HSBC Holdings, plc.) | ING (ING Group, N.V.) | |
|---|---|---|
| 1-year return | +66.6% | +52.5% |
| 5-year return | +420.9% | +269.9% |
| Volatility (ann.) | 22.1% | 27.5% |
| Beta vs S&P 500 | 0.68 | 0.94 |
| Max drawdown (3Y) | -21.8% | -19.9% |
| Market cap | $352.5B | $100.1B |
| P/E (trailing) | 14.8 | 13.2 |
| Dividend yield | 0.72% | 3.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSBC | ING |
|---|---|---|
| 2022 | +7.8% | -4.2% |
| 2023 | +39.4% | +31.9% |
| 2024 | +34.5% | +12.2% |
| 2025 | +67.9% | +88.3% |
| 2026 | +35.8% | +30.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSBC and ING good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HSBC and ING?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.76 over the last year and 0.69 over 5 years.
Is ING a good diversifier for HSBC?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/hsbc-vs-ing.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hsbc-vs-ing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HSBC correlations · ING correlations
