ASB vs USB: Correlation
Associated Banc-Corp (ASB) and U.S. Bancorp (USB) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and USB?
Over the past 3 years, ASB and USB moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 663.3 %².
Among the 47 assets we track against ASB, USB ranks #23 by 3-year correlation. On 12-month performance USB holds a 14.6-point edge, +18.5% against +33.1%.
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 USB: side by side
| ASB (Associated Banc-Corp) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +18.5% | +33.1% |
| 5-year return | +82.7% | +36.0% |
| Volatility (ann.) | 29.0% | 27.3% |
| Beta vs S&P 500 | 1.03 | 1.09 |
| Max drawdown (3Y) | -31.6% | -30.6% |
| Market cap | $5.8B | $97.2B |
| P/E (trailing) | 10.8 | 12.5 |
| Dividend yield | 3.08% | 3.31% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ASB | USB |
|---|---|---|
| 2022 | +6.0% | -19.1% |
| 2023 | -2.9% | +4.8% |
| 2024 | +16.2% | +15.6% |
| 2025 | +11.8% | +16.5% |
| 2026 | +21.7% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and USB good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASB and USB?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.87 over the last year and 0.80 over 5 years.
Is USB a good diversifier for ASB?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.84 mean?
A reading of 0.84 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-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asb-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASB correlations · USB correlations
