ACNB vs WTBA: Correlation
How closely do ACNB Corporation (ACNB) and West Bancorporation (WTBA) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACNB and WTBA?
Over the past 3 years, ACNB and WTBA moved with a correlation of 0.76, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 780.9 %².
By 3-year correlation, WTBA places #5 of the 11 assets tracked against ACNB. Their 12-month results are close: +45.8% for ACNB against +47.9% for WTBA.
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.
ACNB vs WTBA: side by side
| ACNB (ACNB Corporation) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +45.8% | +47.9% |
| 5-year return | +163.7% | +16.8% |
| Volatility (ann.) | 33.7% | 30.5% |
| Beta vs S&P 500 | 0.81 | 0.75 |
| Max drawdown (3Y) | -34.6% | -26.9% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | 12.1 | 12.6 |
| Dividend yield | 2.36% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACNB | WTBA |
|---|---|---|
| 2022 | +31.2% | -14.4% |
| 2023 | +16.2% | -12.4% |
| 2024 | -8.0% | +7.7% |
| 2025 | +25.2% | +7.7% |
| 2026 | +36.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACNB and WTBA good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACNB and WTBA?
As of 2026-08-27, the correlation of weekly returns between ACNB and WTBA is 0.76 over 3 years, 0.76 over 1 year and 0.64 over 5 years.
Is WTBA a good diversifier for ACNB?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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: ACNB correlations · WTBA correlations
