NBHC vs. FHN
NBHC (National Bank Holdings Corporation) and FHN (First Horizon Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, NBHC returned 10.43%/yr vs 10.22%/yr for FHN. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
NBHC vs. FHN - Performance Comparison
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Returns By Period
In the year-to-date period, NBHC achieves a 14.23% return, which is significantly higher than FHN's 5.33% return. Both investments have delivered pretty close results over the past 10 years, with NBHC having a 10.43% annualized return and FHN not far behind at 10.22%.
NBHC
- 1D
- -0.16%
- 1M
- 2.50%
- YTD
- 14.23%
- 6M
- 10.06%
- 1Y
- 22.88%
- 3Y*
- 17.45%
- 5Y*
- 5.61%
- 10Y*
- 10.43%
FHN
- 1D
- 0.00%
- 1M
- 3.10%
- YTD
- 5.33%
- 6M
- 2.29%
- 1Y
- 27.88%
- 3Y*
- 35.80%
- 5Y*
- 11.27%
- 10Y*
- 10.22%
NBHC vs. FHN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NBHC National Bank Holdings Corporation | 14.23% | -8.94% | 19.11% | -8.81% | -2.16% | 37.06% | -4.50% | 16.56% | -3.44% | 2.77% |
FHN First Horizon Corporation | 5.33% | 22.12% | 47.68% | -39.44% | 53.94% | 32.61% | -18.45% | 30.48% | -32.35% | 1.93% |
Correlation
The correlation between NBHC and FHN is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012 | 0.62 |
The correlation between NBHC and FHN has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
Fundamentals
NBHC:
$3.71
FHN:
$2.05
NBHC:
11.53
FHN:
12.12
NBHC:
2.63
FHN:
3.40
NBHC:
2.04
FHN:
2.70
NBHC:
$598.85M
FHN:
$4.60B
NBHC:
$313.20M
FHN:
$3.40B
NBHC:
$128.33M
FHN:
$1.40B
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Return for Risk
NBHC vs. FHN — Risk / Return Rank
NBHC
FHN
NBHC vs. FHN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Bank Holdings Corporation (NBHC) and First Horizon Corporation (FHN). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NBHC | FHN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.70 | -0.10 |
| Martin ratioReturn relative to average drawdown | 3.61 | 4.18 | -0.57 |
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Drawdowns
NBHC vs. FHN - Drawdown Comparison
The maximum NBHC drawdown since its inception was -48.43%, smaller than the maximum FHN drawdown of -87.74%. Use the drawdown chart below to compare losses from any high point for NBHC and FHN.
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Drawdown Indicators
| NBHC | FHN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.43% | -87.74% | +39.31% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -16.52% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -32.94% | -27.14% | -5.80% |
Max Drawdown (5Y)Largest decline over 5 years | -43.64% | -60.76% | +17.12% |
Max Drawdown (10Y)Largest decline over 10 years | -48.43% | -64.25% | +15.82% |
Current DrawdownCurrent decline from peak | -12.07% | -4.03% | -8.04% |
Average DrawdownAverage peak-to-trough decline | -13.48% | -20.06% | +6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.35% | 6.68% | -0.33% |
Volatility
NBHC vs. FHN - Volatility Comparison
National Bank Holdings Corporation (NBHC) has a higher volatility of 6.03% compared to First Horizon Corporation (FHN) at 5.64%. This indicates that NBHC's price experiences larger fluctuations and is considered to be riskier than FHN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBHC | FHN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 5.64% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 16.74% | 16.99% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.90% | 25.59% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.60% | 37.01% | -6.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.39% | 38.99% | -7.60% |
Dividends
NBHC vs. FHN - Dividend Comparison
NBHC's dividend yield for the trailing twelve months is around 2.92%, more than FHN's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHN First Horizon Corporation | 2.58% | 2.51% | 2.98% | 4.24% | 2.45% | 3.67% | 4.70% | 3.38% | 3.65% | 1.80% | 1.40% | 1.65% |
NBHC National Bank Holdings Corporation | 2.92% | 3.16% | 2.60% | 2.80% | 2.23% | 1.98% | 2.44% | 2.13% | 1.75% | 1.05% | 0.69% | 0.94% |
Financials
NBHC vs. FHN - Financials Comparison
This section allows you to compare key financial metrics between National Bank Holdings Corporation and First Horizon Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NBHC vs. FHN - Profitability Comparison
NBHC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Bank Holdings Corporation reported a gross profit of 0.00 and revenue of 159.15M. Therefore, the gross margin over that period was 0.0%.
FHN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported a gross profit of 862.00M and revenue of 862.00M. Therefore, the gross margin over that period was 100.0%.
NBHC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Bank Holdings Corporation reported an operating income of 0.00 and revenue of 159.15M, resulting in an operating margin of 0.0%.
FHN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported an operating income of 357.00M and revenue of 862.00M, resulting in an operating margin of 41.4%.
NBHC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Bank Holdings Corporation reported a net income of 20.79M and revenue of 159.15M, resulting in a net margin of 13.1%.
FHN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Horizon Corporation reported a net income of 263.00M and revenue of 862.00M, resulting in a net margin of 30.5%.
Frequently Asked Questions
NBHC and FHN have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NBHC has higher volatility (6.03%) compared to FHN (5.64%). In terms of maximum drawdown, NBHC dropped -48.43% vs FHN's -87.74%.
FHN currently has the higher Sharpe Ratio (1.10 vs 0.89), 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.
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