CBFV vs CCNE: Correlation
How closely do CB Financial Services, Inc. (CBFV) and CNB Financial Corporation (CCNE) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBFV and CCNE?
Across a 3-year window, the weekly returns of CBFV and CCNE correlate at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 378.4 %².
CCNE is one of the assets that tracks CBFV most closely: it ranks #2 out of the 10 assets we track against CBFV. On 12-month performance CCNE holds a 13.0-point edge, +17.2% against +30.2%.
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.
CBFV vs CCNE: side by side
| CBFV (CB Financial Services, Inc.) | CCNE (CNB Financial Corporation) | |
|---|---|---|
| 1-year return | +17.2% | +30.2% |
| 5-year return | +97.7% | +61.1% |
| Volatility (ann.) | 25.3% | 29.0% |
| Beta vs S&P 500 | 0.46 | 0.84 |
| Max drawdown (3Y) | -21.1% | -29.7% |
| Market cap | $0.2B | $1.0B |
| P/E (trailing) | 27.3 | 10.6 |
| Dividend yield | 2.89% | 2.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBFV | CCNE |
|---|---|---|
| 2022 | -7.2% | -7.8% |
| 2023 | +16.5% | -1.6% |
| 2024 | +25.1% | +13.6% |
| 2025 | +26.0% | +8.4% |
| 2026 | +9.7% | +31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBFV and CCNE good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CBFV and CCNE?
As of 2026-08-27, the correlation of weekly returns between CBFV and CCNE is 0.52 over 3 years, 0.48 over 1 year and 0.41 over 5 years.
Is CCNE a good diversifier for CBFV?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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: CBFV correlations · CCNE correlations
