API vs SSBI: Correlation
Measured on weekly returns over the past three years, Agora, Inc. (API) and Summit State Bank (SSBI) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and SSBI?
Across a 3-year window, the weekly returns of API and SSBI correlate at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.18) than the 3-year average (-0.33). Stretching to 5 years gives -0.25, with an annualized covariance of -1210.3 %².
Out of 14 assets tracked against API, SSBI lands near the bottom at #14. The trailing year gives API the advantage: +15.7% versus +6.8%, a 8.9-point spread. Risk is not evenly split, since API carries 2.6 times the volatility of the other side.
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.
API vs SSBI: side by side
| API (Agora, Inc.) | SSBI (Summit State Bank) | |
|---|---|---|
| 1-year return | +15.7% | +6.8% |
| 5-year return | -86.7% | -2.9% |
| Volatility (ann.) | 96.1% | 37.6% |
| Beta vs S&P 500 | 1.90 | 0.24 |
| Max drawdown (3Y) | -60.8% | -60.6% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 45.1 | 39.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | SSBI |
|---|---|---|
| 2022 | -75.9% | +5.2% |
| 2023 | -32.7% | -19.6% |
| 2024 | +58.2% | -35.9% |
| 2025 | -2.2% | +52.0% |
| 2026 | -0.2% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and SSBI good diversifiers for each other?
Yes. With a correlation of -0.33, API and SSBI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between API and SSBI?
The API/SSBI correlation stands at -0.33 on a 3-year window (1 year: 0.18, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is SSBI a good diversifier for API?
Yes. With a correlation of -0.33, API and SSBI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/api-vs-ssbi.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: API correlations · SSBI correlations
