ABCB vs ALRS: Correlation
Measured on weekly returns over the past three years, Ameris Bancorp (ABCB) and Alerus Financial Corporation (ALRS) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCB and ALRS?
On 3 years of weekly data the ABCB/ALRS correlation comes out at 0.74, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 689.1 %².
Within ABCB's tracked universe of 49 assets, ALRS comes in at #34 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ALRS ahead by 36.3 points (+16.9% versus +53.2%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ABCB vs ALRS: side by side
| ABCB (Ameris Bancorp) | ALRS (Alerus Financial Corporation) | |
|---|---|---|
| 1-year return | +16.9% | +53.2% |
| 5-year return | +86.9% | +33.2% |
| Volatility (ann.) | 29.7% | 31.4% |
| Beta vs S&P 500 | 1.06 | 0.88 |
| Max drawdown (3Y) | -29.5% | -32.5% |
| Market cap | $5.7B | $0.8B |
| P/E (trailing) | 15.5 | 30.8 |
| Dividend yield | 0.93% | 2.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | ALRS |
|---|---|---|
| 2022 | -3.8% | -17.9% |
| 2023 | +14.3% | -0.2% |
| 2024 | +19.4% | -10.7% |
| 2025 | +20.1% | +21.7% |
| 2026 | +15.5% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and ALRS good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ABCB and ALRS?
The ABCB/ALRS correlation stands at 0.74 on a 3-year window (1 year: 0.70, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is ALRS a good diversifier for ABCB?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abcb-vs-alrs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abcb-vs-alrs/)
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Related comparisons
Hubs: ABCB correlations · ALRS correlations
