EWBC vs UNB: Correlation
Measured on weekly returns over the past three years, East West Bancorp, Inc. (EWBC) and Union Bankshares, Inc. (UNB) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWBC and UNB?
Across a 3-year window, the weekly returns of EWBC and UNB correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.41, with an annualized covariance of 501.0 %².
By 3-year correlation, UNB places #7 of the 13 assets tracked against EWBC. Correlation aside, the last 12 months split them widely, with EWBC ahead by 30.5 points (+25.0% versus -5.5%).
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.
EWBC vs UNB: side by side
| EWBC (East West Bancorp, Inc.) | UNB (Union Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +25.0% | -5.5% |
| 5-year return | +103.5% | -7.4% |
| Volatility (ann.) | 30.2% | 34.7% |
| Beta vs S&P 500 | 1.03 | 0.57 |
| Max drawdown (3Y) | -35.8% | -40.1% |
| Market cap | $17.8B | $0.1B |
| P/E (trailing) | 12.5 | 9.1 |
| Dividend yield | 2.15% | 6.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EWBC | UNB |
|---|---|---|
| 2022 | -14.4% | -15.4% |
| 2023 | +12.8% | +35.3% |
| 2024 | +36.8% | -0.7% |
| 2025 | +20.3% | -13.8% |
| 2026 | +17.6% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWBC and UNB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EWBC and UNB?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.48 over the last year and 0.41 over 5 years.
Is UNB a good diversifier for EWBC?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/ewbc-vs-unb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ewbc-vs-unb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EWBC correlations · UNB correlations
