ASB vs GT: Correlation
How closely do Associated Banc-Corp (ASB) and The Goodyear Tire & Rubber Company (GT) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and GT?
Across a 3-year window, the weekly returns of ASB and GT correlate at 0.54, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.54 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 705.0 %².
Among the 47 assets we track against ASB, GT ranks #38 by 3-year correlation. The last year tells two different stories: ASB led by 46.7 percentage points, +18.5% for ASB against -28.2% for GT. Risk is not evenly split, since GT carries 1.6 times the volatility of the other side.
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 GT: side by side
| ASB (Associated Banc-Corp) | GT (The Goodyear Tire & Rubber Company) | |
|---|---|---|
| 1-year return | +18.5% | -28.2% |
| 5-year return | +82.7% | -61.1% |
| Volatility (ann.) | 29.0% | 45.0% |
| Beta vs S&P 500 | 1.03 | 0.80 |
| Max drawdown (3Y) | -31.6% | -62.8% |
| Market cap | $5.8B | $1.8B |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 3.08% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | GT |
|---|---|---|
| 2022 | +6.0% | -52.4% |
| 2023 | -2.9% | +41.1% |
| 2024 | +16.2% | -37.2% |
| 2025 | +11.8% | -2.7% |
| 2026 | +21.7% | -29.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and GT good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASB and GT?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.70 over the last year and 0.44 over 5 years.
Is GT a good diversifier for ASB?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asb-vs-gt.json
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Related comparisons
Hubs: ASB correlations · GT correlations
