ASB vs COF: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and Capital One (COF) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and COF?
On 3 years of weekly data the ASB/COF correlation comes out at 0.76, strong. Lately the two have drifted apart, with the 1-year correlation at 0.55 versus 0.76 over 3 years. The 5-year figure is 0.69, and annualized covariance runs at 672.4 %².
Among the 47 assets we track against ASB, COF ranks #27 by 3-year correlation. The last year tells two different stories: ASB led by 20.5 percentage points, +18.5% for ASB against -2.0% for COF.
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 COF: side by side
| ASB (Associated Banc-Corp) | COF (Capital One) | |
|---|---|---|
| 1-year return | +18.5% | -2.0% |
| 5-year return | +82.7% | +43.2% |
| Volatility (ann.) | 29.0% | 30.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -31.6% | -31.5% |
| Market cap | $5.8B | $132.9B |
| P/E (trailing) | 10.8 | 12.0 |
| Dividend yield | 3.08% | 1.38% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | COF |
|---|---|---|
| 2022 | +6.0% | -34.6% |
| 2023 | -2.9% | +44.3% |
| 2024 | +16.2% | +38.2% |
| 2025 | +11.8% | +37.6% |
| 2026 | +21.7% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and COF good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASB and COF?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.55 over the last year and 0.69 over 5 years.
Is COF a good diversifier for ASB?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
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.
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Related comparisons
Hubs: ASB correlations · COF correlations
