CHCO vs GABC: Correlation
Measured on weekly returns over the past three years, City Holding Company (CHCO) and German American Bancorp, Inc. (GABC) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCO and GABC?
Across a 3-year window, the weekly returns of CHCO and GABC correlate at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.85 over 1 year against 0.85 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 439.6 %².
Within CHCO's tracked universe of 16 assets, GABC comes in at #4 by 3-year correlation. The trailing year gives GABC the advantage: +13.3% versus +21.5%, a 8.2-point spread.
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.
CHCO vs GABC: side by side
| CHCO (City Holding Company) | GABC (German American Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +13.3% | +21.5% |
| 5-year return | +113.1% | +55.3% |
| Volatility (ann.) | 20.7% | 25.1% |
| Beta vs S&P 500 | 0.45 | 0.62 |
| Max drawdown (3Y) | -18.4% | -25.3% |
| Market cap | $2.0B | $1.9B |
| P/E (trailing) | 15.7 | 13.0 |
| Dividend yield | 2.41% | 2.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCO | GABC |
|---|---|---|
| 2022 | +17.3% | -2.0% |
| 2023 | +22.0% | -10.2% |
| 2024 | +10.4% | +27.9% |
| 2025 | +3.4% | +0.3% |
| 2026 | +22.6% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and GABC good diversifiers for each other?
No: a correlation of 0.85 means CHCO and GABC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CHCO and GABC?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.85 over the last year and 0.75 over 5 years.
Is GABC a good diversifier for CHCO?
No: a correlation of 0.85 means CHCO and GABC tend to fall together, which is precisely when diversification is supposed to help.
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: CHCO correlations · GABC correlations
