ATLO vs THFF: Correlation
Ames National Corporation (ATLO) and First Financial Corporation (THFF) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and THFF?
Across a 3-year window, the weekly returns of ATLO and THFF correlate at 0.67, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.63, with an annualized covariance of 499.0 %².
THFF is one of the assets that tracks ATLO most closely: it ranks #3 out of the 11 assets we track against ATLO. Their recent paths diverged sharply: over the last 12 months ATLO outperformed by 24.7 percentage points (+63.5% for ATLO against +38.8% for THFF).
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 THFF: side by side
| ATLO (Ames National Corporation) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +63.5% | +38.8% |
| 5-year return | +67.0% | +135.2% |
| Volatility (ann.) | 26.4% | 28.2% |
| Beta vs S&P 500 | 0.51 | 0.81 |
| Max drawdown (3Y) | -25.4% | -20.2% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | 12.1 | 11.1 |
| Dividend yield | 2.81% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLO | THFF |
|---|---|---|
| 2022 | +1.0% | +4.4% |
| 2023 | -4.5% | -2.6% |
| 2024 | -19.0% | +11.1% |
| 2025 | +45.7% | +36.2% |
| 2026 | +39.2% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and THFF good diversifiers for each other?
Only partially. A correlation of 0.67 means ATLO and THFF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ATLO and THFF?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.75 over the last year and 0.63 over 5 years.
Is THFF a good diversifier for ATLO?
Only partially. A correlation of 0.67 means ATLO and THFF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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.
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Related comparisons
Hubs: ATLO correlations · THFF correlations
