COLB vs MMM: Correlation
Measured on weekly returns over the past three years, Columbia Banking System, Inc. (COLB) and 3M (MMM) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLB and MMM?
Over the past 3 years, COLB and MMM moved with a correlation of 0.53, which is moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.53). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 561.0 %².
Within COLB's tracked universe of 13 assets, MMM comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +18.3% for COLB and +16.4% for MMM.
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.
COLB vs MMM: side by side
| COLB (Columbia Banking System, Inc.) | MMM (3M) | |
|---|---|---|
| 1-year return | +18.3% | +16.4% |
| 5-year return | +9.4% | +29.9% |
| Volatility (ann.) | 35.2% | 29.8% |
| Beta vs S&P 500 | 1.01 | 0.89 |
| Max drawdown (3Y) | -36.4% | -20.7% |
| Market cap | $8.7B | $92.2B |
| P/E (trailing) | 12.1 | 31.9 |
| Dividend yield | 4.79% | 1.68% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | COLB | MMM |
|---|---|---|
| 2022 | -4.3% | -29.6% |
| 2023 | -5.9% | -3.3% |
| 2024 | +8.1% | +46.1% |
| 2025 | +9.4% | +26.4% |
| 2026 | +12.6% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLB and MMM good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between COLB and MMM?
As of 2026-08-27, the correlation of weekly returns between COLB and MMM is 0.53 over 3 years, 0.41 over 1 year and 0.50 over 5 years.
Is MMM a good diversifier for COLB?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/colb-vs-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/colb-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COLB correlations · MMM correlations
