Using Density Functional Theory calculations, this paper addresses two questions: (1) to what degree can the properties of high entropy carbides created by equi-molar combinations of five of the set of eight refractory metals Hf, Nb, Mo, Ta, Ti, V, W, and Zr be predicted from their respective binary compounds, and (2) can empirical relationships from properties of the binary compounds be used to predict phase stability for these materials. For the former question, it is found that lattice constant, binding energy and bulk modulus are well approximated by binary carbide averages, but carbon vacancy formation energies are less predictable. To address the second question, correlations are explored between binary properties and the entropy forming ability (EFA) of all 56 possible five-element combinations of the eight refractory elements. Significant correlations are not found between cohesive energies or lattice constants of the binary constituents of each composition and that composition’s EFA, but there is a correlation between EFA and the standard deviation of the distribution of bulk moduli of the constituent binaries.