CCNE vs MLR: Correlation
Measured on weekly returns over the past three years, CNB Financial Corporation (CCNE) and Miller Industries, Inc. (MLR) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and MLR?
Across a 3-year window, the weekly returns of CCNE and MLR correlate at 0.59, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.59). Stretching to 5 years gives 0.46, with an annualized covariance of 546.0 %².
By 3-year correlation, MLR places #17 of the 27 assets tracked against CCNE. Twelve-month performance is nearly a tie, at +30.2% for CCNE and +33.4% for MLR.
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.
CCNE vs MLR: side by side
| CCNE (CNB Financial Corporation) | MLR (Miller Industries, Inc.) | |
|---|---|---|
| 1-year return | +30.2% | +33.4% |
| 5-year return | +61.1% | +70.2% |
| Volatility (ann.) | 29.0% | 31.9% |
| Beta vs S&P 500 | 0.84 | 0.88 |
| Max drawdown (3Y) | -29.7% | -52.7% |
| Market cap | $1.0B | $0.7B |
| P/E (trailing) | 10.6 | 46.3 |
| Dividend yield | 2.18% | 1.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | MLR |
|---|---|---|
| 2022 | -7.8% | -17.9% |
| 2023 | -1.6% | +61.8% |
| 2024 | +13.6% | +56.6% |
| 2025 | +8.4% | -41.7% |
| 2026 | +31.5% | +56.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and MLR good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCNE and MLR?
As of 2026-08-27, the correlation of weekly returns between CCNE and MLR is 0.59 over 3 years, 0.36 over 1 year and 0.46 over 5 years.
Is MLR a good diversifier for CCNE?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccne-vs-mlr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccne-vs-mlr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCNE correlations · MLR correlations
