AVBH vs ONB: Correlation
Avidbank Holdings, Inc. (AVBH) and Old National Bancorp (ONB) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVBH and ONB?
On 3 years of weekly data the AVBH/ONB correlation comes out at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.46). The 5-year figure is 0.41, and annualized covariance runs at 259.1 %².
By 3-year correlation, ONB places #5 of the 10 assets tracked against AVBH. On 12-month performance AVBH holds a 12.9-point edge, +28.0% against +15.1%.
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.
AVBH vs ONB: side by side
| AVBH (Avidbank Holdings, Inc.) | ONB (Old National Bancorp) | |
|---|---|---|
| 1-year return | +28.0% | +15.1% |
| 5-year return | +40.0% | +81.8% |
| Volatility (ann.) | 19.4% | 29.0% |
| Beta vs S&P 500 | 0.41 | 1.07 |
| Max drawdown (3Y) | -25.2% | -26.1% |
| Market cap | $0.3B | $9.9B |
| P/E (trailing) | – | 11.4 |
| Dividend yield | 0.00% | 2.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVBH | ONB |
|---|---|---|
| 2022 | -17.5% | +2.5% |
| 2023 | +3.2% | -2.5% |
| 2024 | +2.0% | +32.5% |
| 2025 | +21.8% | +5.4% |
| 2026 | +20.0% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVBH and ONB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVBH and ONB?
As of 2026-08-27, the correlation of weekly returns between AVBH and ONB is 0.46 over 3 years, 0.64 over 1 year and 0.41 over 5 years.
Is ONB a good diversifier for AVBH?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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: AVBH correlations · ONB correlations
