HBNC vs. BHF

Last updated Jun 3, 2026

HBNC (Horizon Bancorp, Inc.) and BHF (Brighthouse Financial, Inc.) are both stocks. Both are in the Financial Services sector — HBNC in Banks - Regional, BHF in Insurance - Life. Over the past 5 years, HBNC returned 4.77%/yr vs 5.08%/yr for BHF. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

HBNC vs. BHF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Bancorp, Inc. (HBNC) and Brighthouse Financial, Inc. (BHF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBNC achieves a 12.02% return, which is significantly higher than BHF's -3.94% return.

HBNC

• 1D: 1.97%
• 1M: 1.75%
• YTD: 12.02%
• 6M: 10.14%
• 1Y: 30.96%
• 3Y*: 29.62%
• 5Y*: 4.77%
• 10Y*: 9.11%

BHF

• 1D: -0.67%
• 1M: -0.65%
• YTD: -3.94%
• 6M: -5.04%
• 1Y: 5.26%
• 3Y*: 12.62%
• 5Y*: 5.08%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HBNC vs. BHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HBNC Horizon Bancorp, Inc.	12.02%	9.76%	18.19%	0.43%	-25.26%	35.43%	-12.86%	23.69%	-13.14%	4.64%
BHF Brighthouse Financial, Inc.	-3.94%	34.87%	-9.22%	3.22%	-1.02%	43.07%	-7.71%	28.71%	-48.02%	-16.23%

Correlation

The correlation between HBNC and BHF is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017	0.57

Over the past year, the correlation between HBNC and BHF has dropped to 0.18 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Fundamentals

EPS HBNC : -$3.06 BHF : -$1.50
Total Revenue (TTM) HBNC : -$1.82M BHF : $5.58B
Gross Profit (TTM) HBNC : -$97.09M BHF : $2.23B
EBITDA (TTM) HBNC : -$218.68M BHF : $942.00M

Return for Risk

HBNC vs. BHF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HBNC

HBNC Risk / Return Rank: 71
HBNC Sharpe Ratio Rank: 74
HBNC Sortino Ratio Rank: 68
HBNC Omega Ratio Rank: 67
HBNC Calmar Ratio Rank: 72
HBNC Martin Ratio Rank: 76

BHF

BHF Risk / Return Rank: 46
BHF Sharpe Ratio Rank: 43
BHF Sortino Ratio Rank: 49
BHF Omega Ratio Rank: 50
BHF Calmar Ratio Rank: 44
BHF Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HBNC vs. BHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Bancorp, Inc. (HBNC) and Brighthouse Financial, Inc. (BHF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HBNC	BHF	Difference
Sharpe ratio Return per unit of total volatility	1.12	0.10	+1.02
Sortino ratio Return per unit of downside risk	1.66	0.81	+0.85
Omega ratio Gain probability vs. loss probability	1.21	1.11	+0.10
Calmar ratio Return relative to maximum drawdown	1.84	0.15	+1.69
Martin ratio Return relative to average drawdown	5.31	0.34	+4.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBNC vs. BHF - Sharpe Ratio Comparison

The current HBNC Sharpe Ratio is 1.12, which is higher than the BHF Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of HBNC and BHF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HBNC	BHF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	0.10	+1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.12	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	-0.03	+0.38

Drawdowns

HBNC vs. BHF - Drawdown Comparison

The maximum HBNC drawdown since its inception was -65.21%, smaller than the maximum BHF drawdown of -76.93%. Use the drawdown chart below to compare losses from any high point for HBNC and BHF.

Drawdown Indicators

	HBNC	BHF	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-76.93%	+11.72%
Max Drawdown (1Y) Largest decline over 1 year	-16.65%	-26.89%	+10.24%
Max Drawdown (3Y) Largest decline over 3 years	-29.61%	-31.14%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	-65.21%	-35.19%	-30.02%
Max Drawdown (10Y) Largest decline over 10 years	-65.21%	—	—
Current Drawdown Current decline from peak	-3.70%	-11.09%	+7.39%
Average Drawdown Average peak-to-trough decline	-16.89%	-33.01%	+16.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.77%	11.82%	-6.05%

Volatility

HBNC vs. BHF - Volatility Comparison

Horizon Bancorp, Inc. (HBNC) has a higher volatility of 6.52% compared to Brighthouse Financial, Inc. (BHF) at 2.80%. This indicates that HBNC's price experiences larger fluctuations and is considered to be riskier than BHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBNC	BHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	2.80%	+3.72%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	7.00%	+11.26%
Volatility (1Y) Calculated over the trailing 1-year period	27.78%	54.02%	-26.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.77%	43.41%	-7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.87%	48.84%	-11.97%

Dividends

HBNC vs. BHF - Dividend Comparison

HBNC's dividend yield for the trailing twelve months is around 3.43%, while BHF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHF Brighthouse Financial, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HBNC Horizon Bancorp, Inc.	3.43%	3.77%	3.97%	4.47%	4.11%	2.54%	3.03%	2.32%	2.45%	1.73%	1.43%	1.54%

Financials

Frequently Asked Questions

Can I hold both HBNC and BHF in my portfolio?

HBNC and BHF have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HBNC or BHF?

HBNC has higher volatility (6.52%) compared to BHF (2.80%). In terms of maximum drawdown, HBNC dropped -65.21% vs BHF's -76.93%.

Which has better risk-adjusted returns?

HBNC currently has the higher Sharpe Ratio (1.12 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.