HWC vs IIIN: Correlation
How closely do Hancock Whitney Corporation (HWC) and Insteel Industries, Inc. (IIIN) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and IIIN?
On 3 years of weekly data the HWC/IIIN correlation comes out at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.57). The 5-year figure is 0.48, and annualized covariance runs at 692.6 %².
Within HWC's tracked universe of 34 assets, IIIN comes in at #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HWC ahead by 39.8 points (+21.6% versus -18.2%).
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.
HWC vs IIIN: side by side
| HWC (Hancock Whitney Corporation) | IIIN (Insteel Industries, Inc.) | |
|---|---|---|
| 1-year return | +21.6% | -18.2% |
| 5-year return | +89.0% | +6.5% |
| Volatility (ann.) | 30.7% | 39.5% |
| Beta vs S&P 500 | 1.03 | 0.99 |
| Max drawdown (3Y) | -23.9% | -37.0% |
| Market cap | $6.0B | $0.6B |
| P/E (trailing) | 14.7 | 16.3 |
| Dividend yield | 2.53% | 0.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWC | IIIN |
|---|---|---|
| 2022 | -1.2% | -25.6% |
| 2023 | +3.3% | +50.0% |
| 2024 | +16.1% | -26.8% |
| 2025 | +20.0% | +21.5% |
| 2026 | +19.5% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and IIIN good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HWC and IIIN?
The HWC/IIIN correlation stands at 0.57 on a 3-year window (1 year: 0.45, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is IIIN a good diversifier for HWC?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/hwc-vs-iiin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hwc-vs-iiin/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HWC correlations · IIIN correlations
