HWC vs TRMK: Correlation
How closely do Hancock Whitney Corporation (HWC) and Trustmark Corporation (TRMK) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and TRMK?
Across a 3-year window, the weekly returns of HWC and TRMK correlate at 0.88, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.88 over 3. Stretching to 5 years gives 0.80, with an annualized covariance of 725.5 %².
By 3-year correlation, TRMK places #7 of the 34 assets tracked against HWC. On 12-month performance HWC holds a 5.1-point edge, +21.6% against +16.5%.
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 TRMK: side by side
| HWC (Hancock Whitney Corporation) | TRMK (Trustmark Corporation) | |
|---|---|---|
| 1-year return | +21.6% | +16.5% |
| 5-year return | +89.0% | +69.7% |
| Volatility (ann.) | 30.7% | 27.0% |
| Beta vs S&P 500 | 1.03 | 0.91 |
| Max drawdown (3Y) | -23.9% | -22.0% |
| Market cap | $6.0B | $2.7B |
| P/E (trailing) | 14.7 | 11.8 |
| Dividend yield | 2.53% | 2.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWC | TRMK |
|---|---|---|
| 2022 | -1.2% | +10.7% |
| 2023 | +3.3% | -17.0% |
| 2024 | +16.1% | +30.6% |
| 2025 | +20.0% | +13.0% |
| 2026 | +19.5% | +20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and TRMK good diversifiers for each other?
No: a correlation of 0.88 means HWC and TRMK tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between HWC and TRMK?
The HWC/TRMK correlation stands at 0.88 on a 3-year window (1 year: 0.78, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is TRMK a good diversifier for HWC?
No: a correlation of 0.88 means HWC and TRMK tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
A reading of 0.88 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HWC correlations · TRMK correlations
