CCNE vs STBA: Correlation
How closely do CNB Financial Corporation (CCNE) and S&T Bancorp, Inc. (STBA) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and STBA?
Over the past 3 years, CCNE and STBA moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.85 over 3. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 706.8 %².
Within CCNE's tracked universe of 27 assets, STBA comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +30.2% for CCNE and +29.0% for STBA.
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 STBA: side by side
| CCNE (CNB Financial Corporation) | STBA (S&T Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +30.2% | +29.0% |
| 5-year return | +61.1% | +102.2% |
| Volatility (ann.) | 29.0% | 28.7% |
| Beta vs S&P 500 | 0.84 | 0.68 |
| Max drawdown (3Y) | -29.7% | -26.1% |
| Market cap | $1.0B | $1.8B |
| P/E (trailing) | 10.6 | 13.3 |
| Dividend yield | 2.18% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | STBA |
|---|---|---|
| 2022 | -7.8% | +12.6% |
| 2023 | -1.6% | +2.1% |
| 2024 | +13.6% | +18.7% |
| 2025 | +8.4% | +6.7% |
| 2026 | +31.5% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and STBA good diversifiers for each other?
No. With a correlation of 0.85, CCNE and STBA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CCNE and STBA?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.84 over the last year and 0.78 over 5 years.
Is STBA a good diversifier for CCNE?
No. With a correlation of 0.85, CCNE and STBA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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.
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Related comparisons
Hubs: CCNE correlations · STBA correlations
