CHCO vs SFST: Correlation
City Holding Company (CHCO) and Southern First Bancshares, Inc. (SFST) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCO and SFST?
On 3 years of weekly data the CHCO/SFST correlation comes out at 0.77, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.77 over 3. The 5-year figure is 0.62, and annualized covariance runs at 533.5 %².
By 3-year correlation, SFST places #7 of the 16 assets tracked against CHCO. The last year tells two different stories: SFST led by 23.8 percentage points, +13.3% for CHCO against +37.1% for SFST. Note the risk asymmetry: SFST runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SFST: side by side
| CHCO (City Holding Company) | SFST (Southern First Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +13.3% | +37.1% |
| 5-year return | +113.1% | +23.1% |
| Volatility (ann.) | 20.7% | 33.3% |
| Beta vs S&P 500 | 0.45 | 0.77 |
| Max drawdown (3Y) | -18.4% | -33.6% |
| Market cap | $2.0B | $0.6B |
| P/E (trailing) | 15.7 | 13.3 |
| Dividend yield | 2.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCO | SFST |
|---|---|---|
| 2022 | +17.3% | -26.8% |
| 2023 | +22.0% | -18.9% |
| 2024 | +10.4% | +7.1% |
| 2025 | +3.4% | +29.6% |
| 2026 | +22.6% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and SFST good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHCO and SFST?
The CHCO/SFST correlation stands at 0.77 on a 3-year window (1 year: 0.72, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is SFST a good diversifier for CHCO?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
A reading of 0.77 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CHCO correlations · SFST correlations
