CNOB vs STBA: Correlation
Measured on weekly returns over the past three years, ConnectOne Bancorp, Inc. (CNOB) and S&T Bancorp, Inc. (STBA) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and STBA?
On 3 years of weekly data the CNOB/STBA correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.67 versus 0.86 over 3 years. The 5-year figure is 0.78, and annualized covariance runs at 834.1 %².
Few assets follow CNOB as closely as STBA, which ranks #2 of 17 tracked partners. Neither side won the trailing year by much: +27.5% against +29.0%.
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 STBA: side by side
| CNOB (ConnectOne Bancorp, Inc.) | STBA (S&T Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +27.5% | +29.0% |
| 5-year return | +28.9% | +102.2% |
| Volatility (ann.) | 33.9% | 28.7% |
| Beta vs S&P 500 | 0.94 | 0.68 |
| Max drawdown (3Y) | -26.6% | -26.1% |
| Market cap | $1.6B | $1.8B |
| P/E (trailing) | 9.9 | 13.3 |
| Dividend yield | 2.35% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | STBA |
|---|---|---|
| 2022 | -24.4% | +12.6% |
| 2023 | -1.8% | +2.1% |
| 2024 | +3.3% | +18.7% |
| 2025 | +17.8% | +6.7% |
| 2026 | +24.1% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and STBA good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CNOB and STBA?
The CNOB/STBA correlation stands at 0.86 on a 3-year window (1 year: 0.67, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is STBA a good diversifier for CNOB?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
A reading of 0.86 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-stba.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnob-vs-stba/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNOB correlations · STBA correlations
