ASB vs EWBC: Correlation
Associated Banc-Corp (ASB) and East West Bancorp, Inc. (EWBC) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and EWBC?
On 3 years of weekly data the ASB/EWBC correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 771.4 %².
By 3-year correlation, EWBC places #7 of the 47 assets tracked against ASB. On 12-month performance EWBC holds a 6.5-point edge, +18.5% against +25.0%.
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 EWBC: side by side
| ASB (Associated Banc-Corp) | EWBC (East West Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +25.0% |
| 5-year return | +82.7% | +103.5% |
| Volatility (ann.) | 29.0% | 30.2% |
| Beta vs S&P 500 | 1.03 | 1.03 |
| Max drawdown (3Y) | -31.6% | -35.8% |
| Market cap | $5.8B | $17.8B |
| P/E (trailing) | 10.8 | 12.5 |
| Dividend yield | 3.08% | 2.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | EWBC |
|---|---|---|
| 2022 | +6.0% | -14.4% |
| 2023 | -2.9% | +12.8% |
| 2024 | +16.2% | +36.8% |
| 2025 | +11.8% | +20.3% |
| 2026 | +21.7% | +17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and EWBC good diversifiers for each other?
No: a correlation of 0.88 means ASB and EWBC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ASB and EWBC?
Using weekly returns as of 2026-08-27: 0.88 over 3 years, with 0.83 over the last year and 0.83 over 5 years.
Is EWBC a good diversifier for ASB?
No: a correlation of 0.88 means ASB and EWBC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
A reading of 0.88 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/asb-vs-ewbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asb-vs-ewbc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASB correlations · EWBC correlations
