FNB vs SSB: Correlation
How closely do F.N.B. Corporation (FNB) and SouthState Bank Corporation (SSB) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNB and SSB?
Across a 3-year window, the weekly returns of FNB and SSB correlate at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.89 over 3. Stretching to 5 years gives 0.87, with an annualized covariance of 699.2 %².
By 3-year correlation, SSB places #8 of the 53 assets tracked against FNB. On 12-month performance FNB holds a 6.6-point edge, +13.4% against +6.8%.
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.
FNB vs SSB: side by side
| FNB (F.N.B. Corporation) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +13.4% | +6.8% |
| 5-year return | +91.1% | +76.5% |
| Volatility (ann.) | 27.4% | 28.6% |
| Beta vs S&P 500 | 1.03 | 0.95 |
| Max drawdown (3Y) | -32.6% | -27.6% |
| Market cap | $6.6B | $10.3B |
| P/E (trailing) | 11.0 | 11.2 |
| Dividend yield | 2.65% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNB | SSB |
|---|---|---|
| 2022 | +11.7% | -2.4% |
| 2023 | +9.8% | +13.8% |
| 2024 | +11.0% | +20.7% |
| 2025 | +19.4% | -3.1% |
| 2026 | +9.7% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNB and SSB good diversifiers for each other?
No. With a correlation of 0.89, FNB and SSB move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FNB and SSB?
As of 2026-08-27, the correlation of weekly returns between FNB and SSB is 0.89 over 3 years, 0.84 over 1 year and 0.87 over 5 years.
Is SSB a good diversifier for FNB?
No. With a correlation of 0.89, FNB and SSB move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 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: FNB correlations · SSB correlations
