FULT vs IBOC: Correlation
Fulton Financial Corporation (FULT) and International Bancshares Corporation (IBOC) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FULT and IBOC?
Across a 3-year window, the weekly returns of FULT and IBOC correlate at 0.87, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.87 over 3. Stretching to 5 years gives 0.84, with an annualized covariance of 710.3 %².
Among the 45 assets we track against FULT, IBOC ranks #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FULT outperformed by 25.0 percentage points (+24.1% for FULT against -0.9% for IBOC).
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.
FULT vs IBOC: side by side
| FULT (Fulton Financial Corporation) | IBOC (International Bancshares Corporation) | |
|---|---|---|
| 1-year return | +24.1% | -0.9% |
| 5-year return | +85.0% | +91.3% |
| Volatility (ann.) | 30.3% | 26.9% |
| Beta vs S&P 500 | 1.03 | 0.77 |
| Max drawdown (3Y) | -29.9% | -24.1% |
| Market cap | $4.5B | $4.4B |
| P/E (trailing) | 11.4 | 10.7 |
| Dividend yield | 3.15% | 2.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FULT | IBOC |
|---|---|---|
| 2022 | +3.1% | +10.9% |
| 2023 | +2.5% | +22.0% |
| 2024 | +21.9% | +19.1% |
| 2025 | +4.3% | +7.4% |
| 2026 | +25.0% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FULT and IBOC good diversifiers for each other?
No. With a correlation of 0.87, FULT and IBOC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FULT and IBOC?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.82 over the last year and 0.84 over 5 years.
Is IBOC a good diversifier for FULT?
No. With a correlation of 0.87, FULT and IBOC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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/fult-vs-iboc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fult-vs-iboc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FULT correlations · IBOC correlations
