EBC vs NKSH: Correlation
How closely do Eastern Bankshares, Inc. (EBC) and National Bankshares, Inc. (NKSH) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBC and NKSH?
Across a 3-year window, the weekly returns of EBC and NKSH correlate at 0.67, strong. The past 12 months show a weaker link (0.55) than the 3-year average (0.67). Stretching to 5 years gives 0.54, with an annualized covariance of 645.6 %².
By 3-year correlation, NKSH places #6 of the 11 assets tracked against EBC. Neither side won the trailing year by much: +34.8% against +36.6%.
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.
EBC vs NKSH: side by side
| EBC (Eastern Bankshares, Inc.) | NKSH (National Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +34.8% | +36.6% |
| 5-year return | +30.6% | +44.9% |
| Volatility (ann.) | 28.3% | 33.9% |
| Beta vs S&P 500 | 0.84 | 0.73 |
| Max drawdown (3Y) | -25.0% | -31.0% |
| Market cap | $5.1B | $0.3B |
| P/E (trailing) | 12.5 | 12.8 |
| Dividend yield | 2.41% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBC | NKSH |
|---|---|---|
| 2022 | -12.7% | +17.2% |
| 2023 | -15.0% | -13.1% |
| 2024 | +25.1% | -6.8% |
| 2025 | +10.1% | +23.3% |
| 2026 | +23.3% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBC and NKSH good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EBC and NKSH?
As of 2026-08-27, the correlation of weekly returns between EBC and NKSH is 0.67 over 3 years, 0.55 over 1 year and 0.54 over 5 years.
Is NKSH a good diversifier for EBC?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/ebc-vs-nksh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ebc-vs-nksh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EBC correlations · NKSH correlations
