ABCB vs WAL: Correlation
How closely do Ameris Bancorp (ABCB) and Western Alliance Bancorporation (WAL) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCB and WAL?
Across a 3-year window, the weekly returns of ABCB and WAL correlate at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 1015.3 %².
Among the 49 assets we track against ABCB, WAL ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ABCB ahead by 26.2 points (+16.9% versus -9.3%).
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 WAL: side by side
| ABCB (Ameris Bancorp) | WAL (Western Alliance Bancorporation) | |
|---|---|---|
| 1-year return | +16.9% | -9.3% |
| 5-year return | +86.9% | -9.7% |
| Volatility (ann.) | 29.7% | 39.5% |
| Beta vs S&P 500 | 1.06 | 1.51 |
| Max drawdown (3Y) | -29.5% | -36.0% |
| Market cap | $5.7B | $8.6B |
| P/E (trailing) | 15.5 | 9.0 |
| Dividend yield | 0.93% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCB | WAL |
|---|---|---|
| 2022 | -3.8% | -43.7% |
| 2023 | +14.3% | +14.1% |
| 2024 | +19.4% | +29.7% |
| 2025 | +20.1% | +2.5% |
| 2026 | +15.5% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCB and WAL good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ABCB and WAL?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.81 over the last year and 0.77 over 5 years.
Is WAL a good diversifier for ABCB?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
A reading of 0.86 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 · WAL correlations
