ASB vs TFC: Correlation
How closely do Associated Banc-Corp (ASB) and Truist Financial (TFC) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and TFC?
On 3 years of weekly data the ASB/TFC correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.84) sits close to the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 690.3 %².
By 3-year correlation, TFC places #21 of the 47 assets tracked against ASB. Over the last 12 months ASB came out ahead by 6.4 percentage points (+18.5% against +12.1%).
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 TFC: side by side
| ASB (Associated Banc-Corp) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +18.5% | +12.1% |
| 5-year return | +82.7% | +12.7% |
| Volatility (ann.) | 29.0% | 28.0% |
| Beta vs S&P 500 | 1.03 | 1.07 |
| Max drawdown (3Y) | -31.6% | -26.9% |
| Market cap | $5.8B | $61.4B |
| P/E (trailing) | 10.8 | 11.6 |
| Dividend yield | 3.08% | 4.10% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | TFC |
|---|---|---|
| 2022 | +6.0% | -23.5% |
| 2023 | -2.9% | -8.6% |
| 2024 | +16.2% | +23.7% |
| 2025 | +11.8% | +19.0% |
| 2026 | +21.7% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and TFC 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 TFC?
As of 2026-08-27, the correlation of weekly returns between ASB and TFC is 0.85 over 3 years, 0.84 over 1 year and 0.81 over 5 years.
Is TFC 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-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASB correlations · TFC correlations
