CFBK vs ONB: Correlation
How closely do CF Bankshares Inc. (CFBK) and Old National Bancorp (ONB) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFBK and ONB?
On 3 years of weekly data the CFBK/ONB correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 491.9 %².
Few assets follow CFBK as closely as ONB, which ranks #1 of 12 tracked partners. The last year tells two different stories: CFBK led by 27.4 percentage points, +42.5% for CFBK against +15.1% for ONB.
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.
CFBK vs ONB: side by side
| CFBK (CF Bankshares Inc.) | ONB (Old National Bancorp) | |
|---|---|---|
| 1-year return | +42.5% | +15.1% |
| 5-year return | +92.0% | +81.8% |
| Volatility (ann.) | 30.3% | 29.0% |
| Beta vs S&P 500 | 0.75 | 1.07 |
| Max drawdown (3Y) | -33.5% | -26.1% |
| Market cap | $0.2B | $9.9B |
| P/E (trailing) | 11.9 | 11.4 |
| Dividend yield | 0.98% | 2.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CFBK | ONB |
|---|---|---|
| 2022 | +4.1% | +2.5% |
| 2023 | -6.7% | -2.5% |
| 2024 | +32.6% | +32.5% |
| 2025 | -1.0% | +5.4% |
| 2026 | +39.5% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFBK and ONB good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CFBK and ONB?
As of 2026-08-27, the correlation of weekly returns between CFBK and ONB is 0.56 over 3 years, 0.64 over 1 year and 0.43 over 5 years.
Is ONB a good diversifier for CFBK?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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: CFBK correlations · ONB correlations
