AMAL vs PEBO: Correlation
Measured on weekly returns over the past three years, Amalgamated Financial Corp. (AMAL) and Peoples Bancorp Inc. (PEBO) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAL and PEBO?
On 3 years of weekly data the AMAL/PEBO correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 657.3 %².
PEBO is one of the assets that tracks AMAL most closely: it ranks #2 out of the 11 assets we track against AMAL. Their recent paths diverged sharply: over the last 12 months AMAL outperformed by 33.1 percentage points (+66.7% for AMAL against +33.6% for PEBO).
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.
AMAL vs PEBO: side by side
| AMAL (Amalgamated Financial Corp.) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +66.7% | +33.6% |
| 5-year return | +247.4% | +66.3% |
| Volatility (ann.) | 32.0% | 25.1% |
| Beta vs S&P 500 | 0.84 | 0.69 |
| Max drawdown (3Y) | -32.8% | -24.5% |
| Market cap | $1.5B | $1.4B |
| P/E (trailing) | 13.0 | 12.0 |
| Dividend yield | 1.34% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMAL | PEBO |
|---|---|---|
| 2022 | +39.8% | -6.6% |
| 2023 | +19.4% | +26.5% |
| 2024 | +26.3% | -1.0% |
| 2025 | -2.5% | +0.1% |
| 2026 | +53.6% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAL and PEBO good diversifiers for each other?
No. With a correlation of 0.82, AMAL and PEBO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AMAL and PEBO?
The AMAL/PEBO correlation stands at 0.82 on a 3-year window (1 year: 0.77, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is PEBO a good diversifier for AMAL?
No. With a correlation of 0.82, AMAL and PEBO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 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.
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Related comparisons
Hubs: AMAL correlations · PEBO correlations
