HBNC vs. HBAN

Last updated Jun 3, 2026

HBNC (Horizon Bancorp, Inc.) and HBAN (Huntington Bancshares Incorporated) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, HBNC returned 9.11%/yr vs 9.00%/yr for HBAN. At a 0.36 correlation, their price movements are largely independent.

Performance

HBNC vs. HBAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Bancorp, Inc. (HBNC) and Huntington Bancshares Incorporated (HBAN). 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 HBAN's -5.50% return. Both investments have delivered pretty close results over the past 10 years, with HBNC having a 9.11% annualized return and HBAN not far behind at 9.00%.

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%

HBAN

• 1D: 2.53%
• 1M: -2.41%
• YTD: -5.50%
• 6M: -0.12%
• 1Y: 8.18%
• 3Y*: 19.41%
• 5Y*: 5.09%
• 10Y*: 9.00%

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

HBNC vs. HBAN - 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%	1.06%
HBAN Huntington Bancshares Incorporated	-5.50%	10.78%	33.71%	-4.72%	-4.37%	27.05%	-11.06%	31.74%	-15.26%	13.00%

Correlation

The correlation between HBNC and HBAN is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 18, 2001	0.36

Over the past year, HBNC and HBAN have become more correlated (0.66) than their long-term average of 0.36, meaning their price movements have been converging.

Fundamentals

EPS HBNC : -$3.06 HBAN : $1.46
Total Revenue (TTM) HBNC : -$1.82M HBAN : $12.49B
Gross Profit (TTM) HBNC : -$97.09M HBAN : $7.70B
EBITDA (TTM) HBNC : -$218.68M HBAN : $3.09B

Return for Risk

HBNC vs. HBAN — 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

HBAN

HBAN Risk / Return Rank: 47
HBAN Sharpe Ratio Rank: 51
HBAN Sortino Ratio Rank: 44
HBAN Omega Ratio Rank: 43
HBAN Calmar Ratio Rank: 49
HBAN Martin Ratio Rank: 48

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. HBAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Bancorp, Inc. (HBNC) and Huntington Bancshares Incorporated (HBAN). 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	HBAN	Difference
Sharpe ratio Return per unit of total volatility	1.12	0.32	+0.80
Sortino ratio Return per unit of downside risk	1.66	0.60	+1.06
Omega ratio Gain probability vs. loss probability	1.21	1.07	+0.14
Calmar ratio Return relative to maximum drawdown	1.84	0.37	+1.47
Martin ratio Return relative to average drawdown	5.31	0.77	+4.53
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. HBAN - Sharpe Ratio Comparison

The current HBNC Sharpe Ratio is 1.12, which is higher than the HBAN Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of HBNC and HBAN, 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	HBAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	0.32	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.16	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.26	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.10	+0.25

Drawdowns

HBNC vs. HBAN - Drawdown Comparison

The maximum HBNC drawdown since its inception was -65.21%, smaller than the maximum HBAN drawdown of -95.88%. Use the drawdown chart below to compare losses from any high point for HBNC and HBAN.

Drawdown Indicators

	HBNC	HBAN	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-95.88%	+30.67%
Max Drawdown (1Y) Largest decline over 1 year	-16.65%	-21.26%	+4.61%
Max Drawdown (3Y) Largest decline over 3 years	-29.61%	-30.01%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-65.21%	-44.17%	-21.04%
Max Drawdown (10Y) Largest decline over 10 years	-65.21%	-54.98%	-10.23%
Current Drawdown Current decline from peak	-3.70%	-14.92%	+11.22%
Average Drawdown Average peak-to-trough decline	-16.89%	-33.18%	+16.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.77%	10.14%	-4.37%

Volatility

HBNC vs. HBAN - Volatility Comparison

The current volatility for Horizon Bancorp, Inc. (HBNC) is 6.52%, while Huntington Bancshares Incorporated (HBAN) has a volatility of 7.96%. This indicates that HBNC experiences smaller price fluctuations and is considered to be less risky than HBAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBNC	HBAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	7.96%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	19.97%	-1.71%
Volatility (1Y) Calculated over the trailing 1-year period	27.78%	25.98%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.77%	31.50%	+4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.87%	34.41%	+2.46%

Dividends

HBNC vs. HBAN - Dividend Comparison

HBNC's dividend yield for the trailing twelve months is around 3.43%, less than HBAN's 3.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBAN Huntington Bancshares Incorporated	3.82%	3.57%	3.81%	4.87%	4.40%	3.92%	4.75%	3.85%	4.19%	2.40%	2.19%	2.26%
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 HBAN in my portfolio?

HBNC and HBAN have a correlation of 0.66, 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 HBAN?

HBAN has higher volatility (7.96%) compared to HBNC (6.52%). In terms of maximum drawdown, HBNC dropped -65.21% vs HBAN's -95.88%.

Which has better risk-adjusted returns?

HBNC currently has the higher Sharpe Ratio (1.12 vs 0.32), 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.