GABC vs NKSH: Correlation
Measured on weekly returns over the past three years, German American Bancorp, Inc. (GABC) and National Bankshares, Inc. (NKSH) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GABC and NKSH?
Over the past 3 years, GABC and NKSH moved with a correlation of 0.67, which is strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 572.5 %².
By 3-year correlation, NKSH places #9 of the 15 assets tracked against GABC. Their recent paths diverged sharply: over the last 12 months NKSH outperformed by 15.1 percentage points (+21.5% for GABC against +36.6% for NKSH).
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.
GABC vs NKSH: side by side
| GABC (German American Bancorp, Inc.) | NKSH (National Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +21.5% | +36.6% |
| 5-year return | +55.3% | +44.9% |
| Volatility (ann.) | 25.1% | 33.9% |
| Beta vs S&P 500 | 0.62 | 0.73 |
| Max drawdown (3Y) | -25.3% | -31.0% |
| Market cap | $1.9B | $0.3B |
| P/E (trailing) | 13.0 | 12.8 |
| Dividend yield | 2.46% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GABC | NKSH |
|---|---|---|
| 2022 | -2.0% | +17.2% |
| 2023 | -10.2% | -13.1% |
| 2024 | +27.9% | -6.8% |
| 2025 | +0.3% | +23.3% |
| 2026 | +29.1% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GABC and NKSH good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GABC and NKSH?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.73 over the last year and 0.57 over 5 years.
Is NKSH a good diversifier for GABC?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/gabc-vs-nksh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gabc-vs-nksh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GABC correlations · NKSH correlations
