ASB vs BPOP: Correlation
Associated Banc-Corp (ASB) and Popular, Inc. (BPOP) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and BPOP?
On 3 years of weekly data the ASB/BPOP correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.81 over 3. The 5-year figure is 0.78, and annualized covariance runs at 614.6 %².
Among the 47 assets we track against ASB, BPOP ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BPOP outperformed by 20.7 percentage points (+18.5% for ASB against +39.2% for BPOP).
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.
ASB vs BPOP: side by side
| ASB (Associated Banc-Corp) | BPOP (Popular, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +39.2% |
| 5-year return | +82.7% | +157.8% |
| Volatility (ann.) | 29.0% | 26.3% |
| Beta vs S&P 500 | 1.03 | 0.84 |
| Max drawdown (3Y) | -31.6% | -22.6% |
| Market cap | $5.8B | $10.8B |
| P/E (trailing) | 10.8 | 11.5 |
| Dividend yield | 3.08% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | BPOP |
|---|---|---|
| 2022 | +6.0% | -16.8% |
| 2023 | -2.9% | +28.3% |
| 2024 | +16.2% | +17.9% |
| 2025 | +11.8% | +36.0% |
| 2026 | +21.7% | +37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and BPOP good diversifiers for each other?
No. With a correlation of 0.81, ASB and BPOP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASB and BPOP?
The ASB/BPOP correlation stands at 0.81 on a 3-year window (1 year: 0.76, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is BPOP a good diversifier for ASB?
No. With a correlation of 0.81, ASB and BPOP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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: ASB correlations · BPOP correlations
