CNOB vs UVSP: Correlation
Measured on weekly returns over the past three years, ConnectOne Bancorp, Inc. (CNOB) and Univest Financial Corporation (UVSP) 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 CNOB and UVSP?
On 3 years of weekly data the CNOB/UVSP correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 849.0 %².
Among the 17 assets we track against CNOB, UVSP ranks #4 by 3-year correlation. Over the last 12 months UVSP came out ahead by 6.5 percentage points (+27.5% against +34.0%).
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 UVSP: side by side
| CNOB (ConnectOne Bancorp, Inc.) | UVSP (Univest Financial Corporation) | |
|---|---|---|
| 1-year return | +27.5% | +34.0% |
| 5-year return | +28.9% | +81.7% |
| Volatility (ann.) | 33.9% | 29.4% |
| Beta vs S&P 500 | 0.94 | 0.81 |
| Max drawdown (3Y) | -26.6% | -20.9% |
| Market cap | $1.6B | $1.1B |
| P/E (trailing) | 9.9 | 12.0 |
| Dividend yield | 2.35% | 2.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | UVSP |
|---|---|---|
| 2022 | -24.4% | -9.9% |
| 2023 | -1.8% | -12.1% |
| 2024 | +3.3% | +38.8% |
| 2025 | +17.8% | +14.3% |
| 2026 | +24.1% | +29.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and UVSP good diversifiers for each other?
No: a correlation of 0.85 means CNOB and UVSP tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CNOB and UVSP?
As of 2026-08-27, the correlation of weekly returns between CNOB and UVSP is 0.85 over 3 years, 0.83 over 1 year and 0.77 over 5 years.
Is UVSP a good diversifier for CNOB?
No: a correlation of 0.85 means CNOB and UVSP tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
A reading of 0.85 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-uvsp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnob-vs-uvsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNOB correlations · UVSP correlations
