EBC vs SSB: Correlation
How closely do Eastern Bankshares, Inc. (EBC) and SouthState Bank Corporation (SSB) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBC and SSB?
Across a 3-year window, the weekly returns of EBC and SSB correlate at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 686.6 %².
Among the 11 assets we track against EBC, SSB ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EBC outperformed by 28.0 percentage points (+34.8% for EBC against +6.8% for SSB).
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 SSB: side by side
| EBC (Eastern Bankshares, Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +34.8% | +6.8% |
| 5-year return | +30.6% | +76.5% |
| Volatility (ann.) | 28.3% | 28.6% |
| Beta vs S&P 500 | 0.84 | 0.95 |
| Max drawdown (3Y) | -25.0% | -27.6% |
| Market cap | $5.1B | $10.3B |
| P/E (trailing) | 12.5 | 11.2 |
| Dividend yield | 2.41% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBC | SSB |
|---|---|---|
| 2022 | -12.7% | -2.4% |
| 2023 | -15.0% | +13.8% |
| 2024 | +25.1% | +20.7% |
| 2025 | +10.1% | -3.1% |
| 2026 | +23.3% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBC and SSB good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EBC and SSB?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.80 over the last year and 0.77 over 5 years.
Is SSB a good diversifier for EBC?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: EBC correlations · SSB correlations
