Which stocks are most correlated with HBNC?

Based on one year of daily returns, the stocks most correlated with Horizon Bancorp, Inc. Common Stock (HBNC) are QABA (0.89), BY (0.86) and UVSP (0.85). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with HBNC?

Over the past year, the stocks most inversely correlated with Horizon Bancorp, Inc. Common Stock (HBNC) are SKRE (-0.85), SDD (-0.64) and SBB (-0.62). A negative correlation means the two stocks have tended to move in opposite directions.

Horizon Bancorp, Inc. Common Stock (HBNC) — Stock Correlations & Overview

Over the past year, HBNC has moved most closely with QABA, BY, UVSP. Explore the stocks most correlated and inversely correlated with HBNC below, along with its price, financials, and company profile.

Stocks correlated with HBNC

Correlation of daily returns. Higher positive values move with HBNC; negative values move opposite it. Informational only, not investment advice.

Most correlated with HBNC

Symbol	Company	Correlation
QABA	First Trust NASDAQ ABA Community Bank Index Fund	0.89
BY	Byline Bancorp, Inc. Common StockSTATE COMMERCIAL BANKS	0.86
UVSP	Univest Financial Corporation Common StockSTATE COMMERCIAL BANKS	0.85
KRE	State Street SPDR S&P Regional Banking ETF	0.84
DPST	Direxion Daily Regional Banks Bull 3X ETF	0.84

Most inversely correlated with HBNC

Symbol	Company	Correlation
SKRE	Tuttle Capital Daily 2X Inverse Regional Banks ETF	-0.85
SDD	ProShares UltraShort SmallCap600	-0.64
SBB	ProShares Short SmallCap600	-0.62
FAZ	Direxion Daily Financial Bear 3x ETF	-0.55
SKF	ProShares UltraShort Financials	-0.55

Frequently asked questions about HBNC correlations

Which stocks are most correlated with HBNC?: Based on one year of daily returns, the stocks most correlated with Horizon Bancorp, Inc. Common Stock (HBNC) are QABA (0.89), BY (0.86) and UVSP (0.85). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with HBNC?: Over the past year, the stocks most inversely correlated with Horizon Bancorp, Inc. Common Stock (HBNC) are SKRE (-0.85), SDD (-0.64) and SBB (-0.62). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these HBNC correlations calculated?: We compute the correlation of daily returns between HBNC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.