BANC vs ZION: Correlation
Measured on weekly returns over the past three years, Banc of California, Inc. (BANC) and Zions Bancorporation N.A. (ZION) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANC and ZION?
Across a 3-year window, the weekly returns of BANC and ZION correlate at 0.79, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 940.8 %².
Few assets follow BANC as closely as ZION, which ranks #2 of 14 tracked partners. Over the last 12 months ZION came out ahead by 6.0 percentage points (+14.7% against +20.7%).
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.
BANC vs ZION: side by side
| BANC (Banc of California, Inc.) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +14.7% | +20.7% |
| 5-year return | +18.5% | +41.1% |
| Volatility (ann.) | 33.4% | 35.5% |
| Beta vs S&P 500 | 1.08 | 1.29 |
| Max drawdown (3Y) | -31.2% | -32.4% |
| Market cap | $3.0B | $9.9B |
| P/E (trailing) | – | 8.7 |
| Dividend yield | 2.34% | 2.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANC | ZION |
|---|---|---|
| 2022 | -17.7% | -20.0% |
| 2023 | -13.0% | -6.3% |
| 2024 | +18.3% | +28.2% |
| 2025 | +28.0% | +11.6% |
| 2026 | -1.6% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANC and ZION good diversifiers for each other?
Only partially. A correlation of 0.79 means BANC and ZION 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 BANC and ZION?
The BANC/ZION correlation stands at 0.79 on a 3-year window (1 year: 0.71, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is ZION a good diversifier for BANC?
Only partially. A correlation of 0.79 means BANC and ZION share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
On the −1 to +1 scale, 0.79 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/banc-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/banc-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BANC correlations · ZION correlations
