HWBK vs LARK: Correlation
Hawthorn Bancshares, Inc. (HWBK) and Landmark Bancorp Inc. (LARK) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWBK and LARK?
Across a 3-year window, the weekly returns of HWBK and LARK correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.35, with an annualized covariance of 333.1 %².
LARK is one of the assets that tracks HWBK most closely: it ranks #1 out of the 12 assets we track against HWBK. Over the last 12 months LARK came out ahead by 6.8 percentage points (+21.4% against +28.2%).
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.
HWBK vs LARK: side by side
| HWBK (Hawthorn Bancshares, Inc.) | LARK (Landmark Bancorp Inc.) | |
|---|---|---|
| 1-year return | +21.4% | +28.2% |
| 5-year return | +114.2% | +66.0% |
| Volatility (ann.) | 33.4% | 26.0% |
| Beta vs S&P 500 | 0.50 | 0.35 |
| Max drawdown (3Y) | -27.9% | -20.7% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 10.6 | 9.8 |
| Dividend yield | 2.10% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWBK | LARK |
|---|---|---|
| 2022 | -10.3% | -18.5% |
| 2023 | +25.6% | -4.2% |
| 2024 | +15.4% | +32.6% |
| 2025 | +26.3% | +18.2% |
| 2026 | +13.5% | +23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWBK and LARK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HWBK and LARK?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.39 over the last year and 0.35 over 5 years.
Is LARK a good diversifier for HWBK?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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/hwbk-vs-lark.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwbk-vs-lark/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HWBK correlations · LARK correlations
