AMTB vs NBHC: Correlation
Amerant Bancorp Inc. (AMTB) and National Bank Holdings Corporation (NBHC) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMTB and NBHC?
On 3 years of weekly data the AMTB/NBHC correlation comes out at 0.76, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.76 over 3 years. The 5-year figure is 0.71, and annualized covariance runs at 658.5 %².
Among the 11 assets we track against AMTB, NBHC ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMTB ahead by 29.6 points (+36.7% versus +7.1%).
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.
AMTB vs NBHC: side by side
| AMTB (Amerant Bancorp Inc.) | NBHC (National Bank Holdings Corporation) | |
|---|---|---|
| 1-year return | +36.7% | +7.1% |
| 5-year return | +17.3% | +26.8% |
| Volatility (ann.) | 34.6% | 25.0% |
| Beta vs S&P 500 | 0.99 | 0.75 |
| Max drawdown (3Y) | -36.9% | -32.9% |
| Market cap | $1.1B | $1.8B |
| P/E (trailing) | 20.6 | 17.4 |
| Dividend yield | 1.26% | 3.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMTB | NBHC |
|---|---|---|
| 2022 | -21.4% | -2.2% |
| 2023 | -6.8% | -8.8% |
| 2024 | -7.3% | +19.1% |
| 2025 | -11.3% | -8.9% |
| 2026 | +49.4% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMTB and NBHC good diversifiers for each other?
Only partially. A correlation of 0.76 means AMTB and NBHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMTB and NBHC?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.53 over the last year and 0.71 over 5 years.
Is NBHC a good diversifier for AMTB?
Only partially. A correlation of 0.76 means AMTB and NBHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amtb-vs-nbhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amtb-vs-nbhc/)
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Related comparisons
Hubs: AMTB correlations · NBHC correlations
