ASB vs ORRF: Correlation
Associated Banc-Corp (ASB) and Orrstown Financial Services, Inc. (ORRF) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and ORRF?
Over the past 3 years, ASB and ORRF moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.85 over 3. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 700.8 %².
Among the 47 assets we track against ASB, ORRF ranks #20 by 3-year correlation. Over the last 12 months ORRF came out ahead by 6.1 percentage points (+18.5% against +24.6%).
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 ORRF: side by side
| ASB (Associated Banc-Corp) | ORRF (Orrstown Financial Services, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +24.6% |
| 5-year return | +82.7% | +111.1% |
| Volatility (ann.) | 29.0% | 28.5% |
| Beta vs S&P 500 | 1.03 | 0.84 |
| Max drawdown (3Y) | -31.6% | -35.9% |
| Market cap | $5.8B | $0.8B |
| P/E (trailing) | 10.8 | 9.5 |
| Dividend yield | 3.08% | 2.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | ORRF |
|---|---|---|
| 2022 | +6.0% | -5.3% |
| 2023 | -2.9% | +32.3% |
| 2024 | +16.2% | +27.7% |
| 2025 | +11.8% | -0.0% |
| 2026 | +21.7% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and ORRF good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and ORRF?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.87 over the last year and 0.73 over 5 years.
Is ORRF a good diversifier for ASB?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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-orrf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asb-vs-orrf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASB correlations · ORRF correlations
