CNOB vs EFSC: Correlation
How closely do ConnectOne Bancorp, Inc. (CNOB) and Enterprise Financial Services Corporation (EFSC) 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 CNOB and EFSC?
On 3 years of weekly data the CNOB/EFSC correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.73) than the 3-year average (0.85). The 5-year figure is 0.77, and annualized covariance runs at 772.4 %².
Few assets follow CNOB as closely as EFSC, which ranks #3 of 17 tracked partners. Their recent paths diverged sharply: over the last 12 months CNOB outperformed by 22.2 percentage points (+27.5% for CNOB against +5.3% for EFSC).
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.
CNOB vs EFSC: side by side
| CNOB (ConnectOne Bancorp, Inc.) | EFSC (Enterprise Financial Services Corporation) | |
|---|---|---|
| 1-year return | +27.5% | +5.3% |
| 5-year return | +28.9% | +59.0% |
| Volatility (ann.) | 33.9% | 26.9% |
| Beta vs S&P 500 | 0.94 | 0.66 |
| Max drawdown (3Y) | -26.6% | -25.0% |
| Market cap | $1.6B | $2.3B |
| P/E (trailing) | 9.9 | 12.6 |
| Dividend yield | 2.35% | 2.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | EFSC |
|---|---|---|
| 2022 | -24.4% | +6.0% |
| 2023 | -1.8% | -6.6% |
| 2024 | +3.3% | +29.3% |
| 2025 | +17.8% | -2.1% |
| 2026 | +24.1% | +18.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and EFSC good diversifiers for each other?
No. With a correlation of 0.85, CNOB and EFSC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CNOB and EFSC?
As of 2026-08-27, the correlation of weekly returns between CNOB and EFSC is 0.85 over 3 years, 0.73 over 1 year and 0.77 over 5 years.
Is EFSC a good diversifier for CNOB?
No. With a correlation of 0.85, CNOB and EFSC 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnob-vs-efsc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnob-vs-efsc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNOB correlations · EFSC correlations
