ASB vs FITB: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and Fifth Third Bancorp (FITB) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and FITB?
Across a 3-year window, the weekly returns of ASB and FITB correlate at 0.86, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 731.9 %².
Within ASB's tracked universe of 47 assets, FITB comes in at #16 by 3-year correlation. The trailing year gives FITB the advantage: +18.5% versus +24.6%, a 6.1-point spread.
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 FITB: side by side
| ASB (Associated Banc-Corp) | FITB (Fifth Third Bancorp) | |
|---|---|---|
| 1-year return | +18.5% | +24.6% |
| 5-year return | +82.7% | +71.2% |
| Volatility (ann.) | 29.0% | 29.4% |
| Beta vs S&P 500 | 1.03 | 1.03 |
| Max drawdown (3Y) | -31.6% | -29.9% |
| Market cap | $5.8B | $49.7B |
| P/E (trailing) | 10.8 | 18.5 |
| Dividend yield | 3.08% | 2.90% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | FITB |
|---|---|---|
| 2022 | +6.0% | -21.9% |
| 2023 | -2.9% | +10.4% |
| 2024 | +16.2% | +27.2% |
| 2025 | +11.8% | +14.8% |
| 2026 | +21.7% | +19.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and FITB good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and FITB?
The ASB/FITB correlation stands at 0.86 on a 3-year window (1 year: 0.85, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is FITB a good diversifier for ASB?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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-fitb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-fitb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASB correlations · FITB correlations
