HWC vs USB: Correlation
Measured on weekly returns over the past three years, Hancock Whitney Corporation (HWC) and U.S. Bancorp (USB) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and USB?
On 3 years of weekly data the HWC/USB correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.83 over 3. The 5-year figure is 0.78, and annualized covariance runs at 691.2 %².
By 3-year correlation, USB places #21 of the 34 assets tracked against HWC. Over the last 12 months USB came out ahead by 11.5 percentage points (+21.6% against +33.1%).
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 USB: side by side
| HWC (Hancock Whitney Corporation) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +21.6% | +33.1% |
| 5-year return | +89.0% | +36.0% |
| Volatility (ann.) | 30.7% | 27.3% |
| Beta vs S&P 500 | 1.03 | 1.09 |
| Max drawdown (3Y) | -23.9% | -30.6% |
| Market cap | $6.0B | $97.2B |
| P/E (trailing) | 14.7 | 12.5 |
| Dividend yield | 2.53% | 3.31% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | HWC | USB |
|---|---|---|
| 2022 | -1.2% | -19.1% |
| 2023 | +3.3% | +4.8% |
| 2024 | +16.1% | +15.6% |
| 2025 | +20.0% | +16.5% |
| 2026 | +19.5% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and USB good diversifiers for each other?
No. With a correlation of 0.83, HWC and USB move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HWC and USB?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.78 over the last year and 0.78 over 5 years.
Is USB a good diversifier for HWC?
No. With a correlation of 0.83, HWC and USB move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 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/hwc-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hwc-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HWC correlations · USB correlations
