EBF vs NBHC: Correlation
How closely do Ennis, Inc. (EBF) and National Bank Holdings Corporation (NBHC) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBF and NBHC?
Across a 3-year window, the weekly returns of EBF and NBHC correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.51, with an annualized covariance of 253.5 %².
In EBF's tracked universe of 11 assets, NBHC sits right near the top at #3. The last year tells two different stories: EBF led by 15.0 percentage points, +22.1% for EBF against +7.1% for NBHC.
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.
EBF vs NBHC: side by side
| EBF (Ennis, Inc.) | NBHC (National Bank Holdings Corporation) | |
|---|---|---|
| 1-year return | +22.1% | +7.1% |
| 5-year return | +57.8% | +26.8% |
| Volatility (ann.) | 18.2% | 25.0% |
| Beta vs S&P 500 | 0.29 | 0.75 |
| Max drawdown (3Y) | -22.8% | -32.9% |
| Market cap | – | $1.8B |
| P/E (trailing) | 12.9 | 17.4 |
| Dividend yield | 4.66% | 3.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBF | NBHC |
|---|---|---|
| 2022 | +19.4% | -2.2% |
| 2023 | +3.6% | -8.8% |
| 2024 | +12.6% | +19.1% |
| 2025 | -10.0% | -8.9% |
| 2026 | +23.7% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBF and NBHC good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EBF and NBHC?
The EBF/NBHC correlation stands at 0.56 on a 3-year window (1 year: 0.56, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is NBHC a good diversifier for EBF?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/ebf-vs-nbhc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ebf-vs-nbhc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EBF correlations · NBHC correlations
