ASB vs RF: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and Regions Financial Corporation (RF) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and RF?
On 3 years of weekly data the ASB/RF correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.84, and annualized covariance runs at 735.7 %².
Among the 47 assets we track against ASB, RF ranks #13 by 3-year correlation. Neither side won the trailing year by much: +18.5% against +15.4%.
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 RF: side by side
| ASB (Associated Banc-Corp) | RF (Regions Financial Corporation) | |
|---|---|---|
| 1-year return | +18.5% | +15.4% |
| 5-year return | +82.7% | +83.5% |
| Volatility (ann.) | 29.0% | 29.2% |
| Beta vs S&P 500 | 1.03 | 1.09 |
| Max drawdown (3Y) | -31.6% | -31.9% |
| Market cap | $5.8B | $25.9B |
| P/E (trailing) | 10.8 | 12.4 |
| Dividend yield | 3.08% | 3.45% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | RF |
|---|---|---|
| 2022 | +6.0% | +2.3% |
| 2023 | -2.9% | -5.7% |
| 2024 | +16.2% | +27.0% |
| 2025 | +11.8% | +20.2% |
| 2026 | +21.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and RF good diversifiers for each other?
No. With a correlation of 0.87, ASB and RF move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASB and RF?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.84 over the last year and 0.84 over 5 years.
Is RF a good diversifier for ASB?
No. With a correlation of 0.87, ASB and RF move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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-rf.json
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Related comparisons
Hubs: ASB correlations · RF correlations
