ASB vs CFBK: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and CF Bankshares Inc. (CFBK) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and CFBK?
Across a 3-year window, the weekly returns of ASB and CFBK correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.44, with an annualized covariance of 473.3 %².
By 3-year correlation, CFBK places #37 of the 47 assets tracked against ASB. The last year tells two different stories: CFBK led by 24.0 percentage points, +18.5% for ASB against +42.5% for CFBK.
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 CFBK: side by side
| ASB (Associated Banc-Corp) | CFBK (CF Bankshares Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +42.5% |
| 5-year return | +82.7% | +92.0% |
| Volatility (ann.) | 29.0% | 30.3% |
| Beta vs S&P 500 | 1.03 | 0.75 |
| Max drawdown (3Y) | -31.6% | -33.5% |
| Market cap | $5.8B | $0.2B |
| P/E (trailing) | 10.8 | 11.9 |
| Dividend yield | 3.08% | 0.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | CFBK |
|---|---|---|
| 2022 | +6.0% | +4.1% |
| 2023 | -2.9% | -6.7% |
| 2024 | +16.2% | +32.6% |
| 2025 | +11.8% | -1.0% |
| 2026 | +21.7% | +39.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and CFBK good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASB and CFBK?
As of 2026-08-27, the correlation of weekly returns between ASB and CFBK is 0.54 over 3 years, 0.55 over 1 year and 0.44 over 5 years.
Is CFBK a good diversifier for ASB?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 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 · CFBK correlations
