HWC vs WASH: Correlation
How closely do Hancock Whitney Corporation (HWC) and Washington Trust Bancorp, Inc. (WASH) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and WASH?
Over the past 3 years, HWC and WASH moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.68) runs below the 3-year figure (0.83). Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 894.0 %².
By 3-year correlation, WASH places #22 of the 34 assets tracked against HWC. Correlation aside, the last 12 months split them widely, with WASH ahead by 18.5 points (+21.6% versus +40.1%).
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 WASH: side by side
| HWC (Hancock Whitney Corporation) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +21.6% | +40.1% |
| 5-year return | +89.0% | +4.8% |
| Volatility (ann.) | 30.7% | 34.9% |
| Beta vs S&P 500 | 1.03 | 1.04 |
| Max drawdown (3Y) | -23.9% | -32.3% |
| Market cap | $6.0B | $0.8B |
| P/E (trailing) | 14.7 | 13.7 |
| Dividend yield | 2.53% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWC | WASH |
|---|---|---|
| 2022 | -1.2% | -12.5% |
| 2023 | +3.3% | -26.1% |
| 2024 | +16.1% | +2.7% |
| 2025 | +20.0% | +1.7% |
| 2026 | +19.5% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and WASH good diversifiers for each other?
No. With a correlation of 0.83, HWC and WASH move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between HWC and WASH?
As of 2026-08-27, the correlation of weekly returns between HWC and WASH is 0.83 over 3 years, 0.68 over 1 year and 0.76 over 5 years.
Is WASH a good diversifier for HWC?
No. With a correlation of 0.83, HWC and WASH move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
A reading of 0.83 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-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hwc-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HWC correlations · WASH correlations
