ASRV vs PNFP: Correlation
Measured on weekly returns over the past three years, AmeriServ Financial Inc. (ASRV) and Pinnacle Financial Partners, Inc. (PNFP) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and PNFP?
On 3 years of weekly data the ASRV/PNFP correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 434.7 %².
Few assets follow ASRV as closely as PNFP, which ranks #1 of 11 tracked partners. The last year tells two different stories: ASRV led by 56.9 percentage points, +63.3% for ASRV against +6.4% for PNFP.
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.
ASRV vs PNFP: side by side
| ASRV (AmeriServ Financial Inc.) | PNFP (Pinnacle Financial Partners, Inc.) | |
|---|---|---|
| 1-year return | +63.3% | +6.4% |
| 5-year return | +50.5% | +12.0% |
| Volatility (ann.) | 34.7% | 35.3% |
| Beta vs S&P 500 | 0.31 | 1.22 |
| Max drawdown (3Y) | -32.9% | -35.8% |
| Market cap | $0.1B | $15.3B |
| P/E (trailing) | 9.9 | 13.9 |
| Dividend yield | 2.36% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASRV | PNFP |
|---|---|---|
| 2022 | +5.0% | -22.3% |
| 2023 | -14.5% | +20.5% |
| 2024 | -13.4% | +32.4% |
| 2025 | +24.3% | -15.8% |
| 2026 | +55.6% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and PNFP good diversifiers for each other?
Reasonably. At 0.36, ASRV and PNFP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASRV and PNFP?
The ASRV/PNFP correlation stands at 0.36 on a 3-year window (1 year: 0.38, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is PNFP a good diversifier for ASRV?
Reasonably. At 0.36, ASRV and PNFP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ASRV correlations · PNFP correlations
