BCBP vs CNOB: Correlation
Measured on weekly returns over the past three years, BCB Bancorp, Inc. (NJ) (BCBP) and ConnectOne Bancorp, Inc. (CNOB) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCBP and CNOB?
Over the past 3 years, BCBP and CNOB moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.43) than the 3-year average (0.70). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 786.5 %².
In BCBP's tracked universe of 10 assets, CNOB sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CNOB outperformed by 28.1 percentage points (-0.6% for BCBP against +27.5% for CNOB).
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.
BCBP vs CNOB: side by side
| BCBP (BCB Bancorp, Inc. (NJ)) | CNOB (ConnectOne Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -0.6% | +27.5% |
| 5-year return | -25.8% | +28.9% |
| Volatility (ann.) | 33.3% | 33.9% |
| Beta vs S&P 500 | 0.59 | 0.94 |
| Max drawdown (3Y) | -41.2% | -26.6% |
| Market cap | $0.2B | $1.6B |
| P/E (trailing) | – | 9.9 |
| Dividend yield | 3.70% | 2.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCBP | CNOB |
|---|---|---|
| 2022 | +20.7% | -24.4% |
| 2023 | -24.8% | -1.8% |
| 2024 | -2.5% | +3.3% |
| 2025 | -26.6% | +17.8% |
| 2026 | +9.6% | +24.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCBP and CNOB good diversifiers for each other?
Only partially. A correlation of 0.70 means BCBP and CNOB 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 BCBP and CNOB?
The BCBP/CNOB correlation stands at 0.70 on a 3-year window (1 year: 0.43, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is CNOB a good diversifier for BCBP?
Only partially. A correlation of 0.70 means BCBP and CNOB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BCBP correlations · CNOB correlations
