ASB vs KEY: Correlation
How closely do Associated Banc-Corp (ASB) and KeyCorp (KEY) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and KEY?
On 3 years of weekly data the ASB/KEY correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. The 5-year figure is 0.84, and annualized covariance runs at 801.9 %².
Among the 47 assets we track against ASB, KEY ranks #17 by 3-year correlation. Their 12-month results are close: +18.5% for ASB against +18.4% for KEY.
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 KEY: side by side
| ASB (Associated Banc-Corp) | KEY (KeyCorp) | |
|---|---|---|
| 1-year return | +18.5% | +18.4% |
| 5-year return | +82.7% | +38.0% |
| Volatility (ann.) | 29.0% | 32.1% |
| Beta vs S&P 500 | 1.03 | 1.25 |
| Max drawdown (3Y) | -31.6% | -32.2% |
| Market cap | $5.8B | $23.5B |
| P/E (trailing) | 10.8 | 13.0 |
| Dividend yield | 3.08% | 3.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | KEY |
|---|---|---|
| 2022 | +6.0% | -21.7% |
| 2023 | -2.9% | -11.5% |
| 2024 | +16.2% | +25.3% |
| 2025 | +11.8% | +26.2% |
| 2026 | +21.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and KEY good diversifiers for each other?
No. With a correlation of 0.86, ASB and KEY move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASB and KEY?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.85 over the last year and 0.84 over 5 years.
Is KEY a good diversifier for ASB?
No. With a correlation of 0.86, ASB and KEY move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
A reading of 0.86 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-key.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-key/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASB correlations · KEY correlations
