ABCB vs TOWN: Correlation
Measured on weekly returns over the past three years, Ameris Bancorp (ABCB) and Towne Bank (TOWN) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCB and TOWN?
On 3 years of weekly data the ABCB/TOWN correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.76) runs below the 3-year figure (0.87). The 5-year figure is 0.83, and annualized covariance runs at 646.9 %².
Among the 49 assets we track against ABCB, TOWN ranks #12 by 3-year correlation. On 12-month performance ABCB holds a 10.2-point edge, +16.9% against +6.7%.
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 TOWN: side by side
| ABCB (Ameris Bancorp) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +16.9% | +6.7% |
| 5-year return | +86.9% | +47.6% |
| Volatility (ann.) | 29.7% | 25.0% |
| Beta vs S&P 500 | 1.06 | 0.77 |
| Max drawdown (3Y) | -29.5% | -18.4% |
| Market cap | $5.7B | $3.5B |
| P/E (trailing) | 15.5 | 18.0 |
| Dividend yield | 0.93% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | TOWN |
|---|---|---|
| 2022 | -3.8% | +0.7% |
| 2023 | +14.3% | +0.3% |
| 2024 | +19.4% | +18.3% |
| 2025 | +20.1% | +1.0% |
| 2026 | +15.5% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and TOWN good diversifiers for each other?
No. With a correlation of 0.87, ABCB and TOWN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ABCB and TOWN?
As of 2026-08-27, the correlation of weekly returns between ABCB and TOWN is 0.87 over 3 years, 0.76 over 1 year and 0.83 over 5 years.
Is TOWN a good diversifier for ABCB?
No. With a correlation of 0.87, ABCB and TOWN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ABCB correlations · TOWN correlations
