HTZ vs PNBK: Correlation
How closely do Hertz Global Holdings, Inc (HTZ) and Patriot National Bancorp Inc. (PNBK) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTZ and PNBK?
Over the past 3 years, HTZ and PNBK moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (-0.03) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 5130.8 %².
Within HTZ's tracked universe of 14 assets, PNBK comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PNBK ahead by 33.0 points (-65.1% versus -32.1%).
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.
HTZ vs PNBK: side by side
| HTZ (Hertz Global Holdings, Inc) | PNBK (Patriot National Bancorp Inc.) | |
|---|---|---|
| 1-year return | -65.1% | -32.1% |
| 5-year return | -87.9% | -89.0% |
| Volatility (ann.) | 102.2% | 112.5% |
| Beta vs S&P 500 | 1.27 | 0.76 |
| Max drawdown (3Y) | -91.2% | -89.4% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTZ | PNBK |
|---|---|---|
| 2022 | -38.4% | -31.8% |
| 2023 | -32.5% | -63.9% |
| 2024 | -64.8% | -49.3% |
| 2025 | +40.4% | -6.2% |
| 2026 | -60.3% | -43.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTZ and PNBK good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HTZ and PNBK?
The HTZ/PNBK correlation stands at 0.45 on a 3-year window (1 year: -0.03, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is PNBK a good diversifier for HTZ?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/htz-vs-pnbk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/htz-vs-pnbk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HTZ correlations · PNBK correlations
