CNOB vs PKBK: Correlation
How closely do ConnectOne Bancorp, Inc. (CNOB) and Parke Bancorp, Inc. (PKBK) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and PKBK?
Over the past 3 years, CNOB and PKBK moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 746.2 %².
By 3-year correlation, PKBK places #6 of the 17 assets tracked against CNOB. The last year tells two different stories: PKBK led by 24.6 percentage points, +27.5% for CNOB against +52.1% for PKBK.
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 PKBK: side by side
| CNOB (ConnectOne Bancorp, Inc.) | PKBK (Parke Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +27.5% | +52.1% |
| 5-year return | +28.9% | +97.5% |
| Volatility (ann.) | 33.9% | 27.2% |
| Beta vs S&P 500 | 0.94 | 0.68 |
| Max drawdown (3Y) | -26.6% | -26.3% |
| Market cap | $1.6B | $0.4B |
| P/E (trailing) | 9.9 | 8.8 |
| Dividend yield | 2.35% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | PKBK |
|---|---|---|
| 2022 | -24.4% | +0.4% |
| 2023 | -1.8% | +1.7% |
| 2024 | +3.3% | +5.4% |
| 2025 | +17.8% | +26.6% |
| 2026 | +24.1% | +36.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and PKBK good diversifiers for each other?
No: a correlation of 0.81 means CNOB and PKBK tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CNOB and PKBK?
As of 2026-08-27, the correlation of weekly returns between CNOB and PKBK is 0.81 over 3 years, 0.72 over 1 year and 0.73 over 5 years.
Is PKBK a good diversifier for CNOB?
No: a correlation of 0.81 means CNOB and PKBK tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnob-vs-pkbk.json
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Related comparisons
Hubs: CNOB correlations · PKBK correlations
