ASB vs TCBI: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and Texas Capital Bancshares, Inc. (TCBI) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and TCBI?
Over the past 3 years, ASB and TCBI moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 653.3 %².
Within ASB's tracked universe of 47 assets, TCBI comes in at #26 by 3-year correlation. Over the last 12 months ASB came out ahead by 5.7 percentage points (+18.5% against +12.8%).
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 TCBI: side by side
| ASB (Associated Banc-Corp) | TCBI (Texas Capital Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +12.8% |
| 5-year return | +82.7% | +47.7% |
| Volatility (ann.) | 29.0% | 28.1% |
| Beta vs S&P 500 | 1.03 | 0.81 |
| Max drawdown (3Y) | -31.6% | -31.7% |
| Market cap | $5.8B | $4.3B |
| P/E (trailing) | 10.8 | 12.8 |
| Dividend yield | 3.08% | 0.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | TCBI |
|---|---|---|
| 2022 | +6.0% | +0.1% |
| 2023 | -2.9% | +7.2% |
| 2024 | +16.2% | +21.0% |
| 2025 | +11.8% | +15.8% |
| 2026 | +21.7% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and TCBI good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and TCBI?
The ASB/TCBI correlation stands at 0.80 on a 3-year window (1 year: 0.80, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is TCBI a good diversifier for ASB?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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-tcbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-tcbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASB correlations · TCBI correlations
