ABCB vs HBNC: Correlation
How closely do Ameris Bancorp (ABCB) and Horizon Bancorp, Inc. (HBNC) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCB and HBNC?
Across a 3-year window, the weekly returns of ABCB and HBNC correlate at 0.87, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.85 over 1 year against 0.87 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 846.6 %².
Within ABCB's tracked universe of 49 assets, HBNC comes in at #11 by 3-year correlation. Over the last 12 months HBNC came out ahead by 5.2 percentage points (+16.9% against +22.1%).
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 HBNC: side by side
| ABCB (Ameris Bancorp) | HBNC (Horizon Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +16.9% | +22.1% |
| 5-year return | +86.9% | +36.0% |
| Volatility (ann.) | 29.7% | 32.7% |
| Beta vs S&P 500 | 1.06 | 0.96 |
| Max drawdown (3Y) | -29.5% | -29.6% |
| Market cap | $5.7B | $1.0B |
| P/E (trailing) | 15.5 | – |
| Dividend yield | 0.93% | 3.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | HBNC |
|---|---|---|
| 2022 | -3.8% | -25.3% |
| 2023 | +14.3% | +0.4% |
| 2024 | +19.4% | +18.2% |
| 2025 | +20.1% | +9.8% |
| 2026 | +15.5% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and HBNC good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ABCB and HBNC?
The ABCB/HBNC correlation stands at 0.87 on a 3-year window (1 year: 0.85, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is HBNC a good diversifier for ABCB?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ABCB correlations · HBNC correlations
