ABCB vs ONIT: Correlation
Ameris Bancorp (ABCB) and Onity Group Inc. (ONIT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCB and ONIT?
Across a 3-year window, the weekly returns of ABCB and ONIT correlate at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.54). Stretching to 5 years gives 0.53, with an annualized covariance of 704.9 %².
By 3-year correlation, ONIT places #39 of the 49 assets tracked against ABCB. Their recent paths diverged sharply: over the last 12 months ABCB outperformed by 35.2 percentage points (+16.9% for ABCB against -18.3% for ONIT).
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 ONIT: side by side
| ABCB (Ameris Bancorp) | ONIT (Onity Group Inc.) | |
|---|---|---|
| 1-year return | +16.9% | -18.3% |
| 5-year return | +86.9% | +26.4% |
| Volatility (ann.) | 29.7% | 44.1% |
| Beta vs S&P 500 | 1.06 | 1.15 |
| Max drawdown (3Y) | -29.5% | -36.5% |
| Market cap | $5.7B | $0.3B |
| P/E (trailing) | 15.5 | 2.2 |
| Dividend yield | 0.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | ONIT |
|---|---|---|
| 2022 | -3.8% | -23.5% |
| 2023 | +14.3% | +0.6% |
| 2024 | +19.4% | -0.2% |
| 2025 | +20.1% | +49.1% |
| 2026 | +15.5% | -24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and ONIT good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABCB and ONIT?
The ABCB/ONIT correlation stands at 0.54 on a 3-year window (1 year: 0.36, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is ONIT a good diversifier for ABCB?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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-onit.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abcb-vs-onit/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABCB correlations · ONIT correlations
