ATLO vs MCBS: Correlation
Ames National Corporation (ATLO) and MetroCity Bankshares, Inc. (MCBS) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and MCBS?
Over the past 3 years, ATLO and MCBS moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 494.2 %².
By 3-year correlation, MCBS places #5 of the 11 assets tracked against ATLO. Their recent paths diverged sharply: over the last 12 months ATLO outperformed by 42.7 percentage points (+63.5% for ATLO against +20.8% for MCBS).
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.
ATLO vs MCBS: side by side
| ATLO (Ames National Corporation) | MCBS (MetroCity Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +63.5% | +20.8% |
| 5-year return | +67.0% | +99.5% |
| Volatility (ann.) | 26.4% | 28.2% |
| Beta vs S&P 500 | 0.51 | 0.85 |
| Max drawdown (3Y) | -25.4% | -28.0% |
| Market cap | $0.3B | $1.0B |
| P/E (trailing) | 12.1 | 12.2 |
| Dividend yield | 2.81% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLO | MCBS |
|---|---|---|
| 2022 | +1.0% | -19.3% |
| 2023 | -4.5% | +15.3% |
| 2024 | -19.0% | +37.1% |
| 2025 | +45.7% | -14.1% |
| 2026 | +39.2% | +35.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and MCBS good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATLO and MCBS?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.68 over the last year and 0.58 over 5 years.
Is MCBS a good diversifier for ATLO?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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.
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Related comparisons
Hubs: ATLO correlations · MCBS correlations
