AUB vs NBHC: Correlation
Measured on weekly returns over the past three years, Atlantic Union Bankshares Corporation (AUB) and National Bank Holdings Corporation (NBHC) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUB and NBHC?
On 3 years of weekly data the AUB/NBHC correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 646.7 %².
By 3-year correlation, NBHC places #21 of the 50 assets tracked against AUB. The trailing year gives AUB the advantage: +19.0% versus +7.1%, a 11.9-point spread.
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.
AUB vs NBHC: side by side
| AUB (Atlantic Union Bankshares Corporation) | NBHC (National Bank Holdings Corporation) | |
|---|---|---|
| 1-year return | +19.0% | +7.1% |
| 5-year return | +33.7% | +26.8% |
| Volatility (ann.) | 31.5% | 25.0% |
| Beta vs S&P 500 | 1.07 | 0.75 |
| Max drawdown (3Y) | -44.7% | -32.9% |
| Market cap | $5.8B | $1.8B |
| P/E (trailing) | 11.9 | 17.4 |
| Dividend yield | 3.56% | 3.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUB | NBHC |
|---|---|---|
| 2022 | -2.6% | -2.2% |
| 2023 | +8.1% | -8.8% |
| 2024 | +7.5% | +19.1% |
| 2025 | -2.7% | -8.9% |
| 2026 | +18.9% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUB and NBHC good diversifiers for each other?
No. With a correlation of 0.82, AUB and NBHC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AUB and NBHC?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.81 over the last year and 0.77 over 5 years.
Is NBHC a good diversifier for AUB?
No. With a correlation of 0.82, AUB and NBHC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 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/aub-vs-nbhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aub-vs-nbhc/)
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Related comparisons
Hubs: AUB correlations · NBHC correlations
