AUB vs TOWN: Correlation
How closely do Atlantic Union Bankshares Corporation (AUB) and Towne Bank (TOWN) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUB and TOWN?
Over the past 3 years, AUB and TOWN moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 699.6 %².
Within AUB's tracked universe of 50 assets, TOWN comes in at #5 by 3-year correlation. Over the last 12 months AUB came out ahead by 12.3 percentage points (+19.0% against +6.7%).
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 TOWN: side by side
| AUB (Atlantic Union Bankshares Corporation) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +19.0% | +6.7% |
| 5-year return | +33.7% | +47.6% |
| Volatility (ann.) | 31.5% | 25.0% |
| Beta vs S&P 500 | 1.07 | 0.77 |
| Max drawdown (3Y) | -44.7% | -18.4% |
| Market cap | $5.8B | $3.5B |
| P/E (trailing) | 11.9 | 18.0 |
| Dividend yield | 3.56% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUB | TOWN |
|---|---|---|
| 2022 | -2.6% | +0.7% |
| 2023 | +8.1% | +0.3% |
| 2024 | +7.5% | +18.3% |
| 2025 | -2.7% | +1.0% |
| 2026 | +18.9% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUB and TOWN good diversifiers for each other?
No: a correlation of 0.89 means AUB and TOWN tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AUB and TOWN?
The AUB/TOWN correlation stands at 0.89 on a 3-year window (1 year: 0.88, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is TOWN a good diversifier for AUB?
No: a correlation of 0.89 means AUB and TOWN tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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: AUB correlations · TOWN correlations
