ASB vs CATY: Correlation
How closely do Associated Banc-Corp (ASB) and Cathay General Bancorp (CATY) trade together? Their weekly returns over three years give a correlation of 0.90, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and CATY?
Across a 3-year window, the weekly returns of ASB and CATY correlate at 0.90, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.88 lands near the 3-year figure. Stretching to 5 years gives 0.88, with an annualized covariance of 698.0 %².
CATY is one of the assets that tracks ASB most closely: it ranks #2 out of the 47 assets we track against ASB. Over the last 12 months CATY came out ahead by 8.2 percentage points (+18.5% against +26.7%).
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 CATY: side by side
| ASB (Associated Banc-Corp) | CATY (Cathay General Bancorp) | |
|---|---|---|
| 1-year return | +18.5% | +26.7% |
| 5-year return | +82.7% | +83.2% |
| Volatility (ann.) | 29.0% | 26.8% |
| Beta vs S&P 500 | 1.03 | 0.82 |
| Max drawdown (3Y) | -31.6% | -29.7% |
| Market cap | $5.8B | $4.1B |
| P/E (trailing) | 10.8 | 12.1 |
| Dividend yield | 3.08% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | CATY |
|---|---|---|
| 2022 | +6.0% | -2.1% |
| 2023 | -2.9% | +13.5% |
| 2024 | +16.2% | +10.3% |
| 2025 | +11.8% | +4.6% |
| 2026 | +21.7% | +30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and CATY good diversifiers for each other?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and CATY?
Using weekly returns as of 2026-08-27: 0.90 over 3 years, with 0.88 over the last year and 0.88 over 5 years.
Is CATY a good diversifier for ASB?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 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/asb-vs-caty.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asb-vs-caty/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASB correlations · CATY correlations
