HWC vs KEY: Correlation
Hancock Whitney Corporation (HWC) and KeyCorp (KEY) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and KEY?
Over the past 3 years, HWC and KEY moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 834.1 %².
Among the 34 assets we track against HWC, KEY ranks #14 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.6% for HWC and +18.4% for KEY.
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 KEY: side by side
| HWC (Hancock Whitney Corporation) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +21.6% | +18.4% |
| 5-year return | +89.0% | +38.0% |
| Volatility (ann.) | 30.7% | 32.1% |
| Beta vs S&P 500 | 1.03 | 1.25 |
| Max drawdown (3Y) | -23.9% | -32.2% |
| Market cap | $6.0B | $23.5B |
| P/E (trailing) | 14.7 | 13.0 |
| Dividend yield | 2.53% | 3.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | HWC | KEY |
|---|---|---|
| 2022 | -1.2% | -21.7% |
| 2023 | +3.3% | -11.5% |
| 2024 | +16.1% | +25.3% |
| 2025 | +20.0% | +26.2% |
| 2026 | +19.5% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and KEY good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HWC and KEY?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.80 over the last year and 0.83 over 5 years.
Is KEY a good diversifier for HWC?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwc-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HWC correlations · KEY correlations
