HWC vs TFC: Correlation
How closely do Hancock Whitney Corporation (HWC) and Truist Financial (TFC) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and TFC?
On 3 years of weekly data the HWC/TFC correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.80 over 1 year against 0.84 over 3. The 5-year figure is 0.80, and annualized covariance runs at 726.7 %².
Among the 34 assets we track against HWC, TFC ranks #17 by 3-year correlation. On 12-month performance HWC holds a 9.5-point edge, +21.6% against +12.1%.
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.
HWC vs TFC: side by side
| HWC (Hancock Whitney Corporation) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +21.6% | +12.1% |
| 5-year return | +89.0% | +12.7% |
| Volatility (ann.) | 30.7% | 28.0% |
| Beta vs S&P 500 | 1.03 | 1.07 |
| Max drawdown (3Y) | -23.9% | -26.9% |
| Market cap | $6.0B | $61.4B |
| P/E (trailing) | 14.7 | 11.6 |
| Dividend yield | 2.53% | 4.10% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | HWC | TFC |
|---|---|---|
| 2022 | -1.2% | -23.5% |
| 2023 | +3.3% | -8.6% |
| 2024 | +16.1% | +23.7% |
| 2025 | +20.0% | +19.0% |
| 2026 | +19.5% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and TFC good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HWC and TFC?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.80 over the last year and 0.80 over 5 years.
Is TFC a good diversifier for HWC?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 mean?
A reading of 0.84 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/hwc-vs-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwc-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HWC correlations · TFC correlations
