GBCI vs SSB: Correlation
How closely do Glacier Bancorp, Inc. (GBCI) and SouthState Bank Corporation (SSB) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBCI and SSB?
On 3 years of weekly data the GBCI/SSB correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 794.0 %².
Among the 15 assets we track against GBCI, SSB ranks #5 by 3-year correlation. On 12-month performance SSB holds a 6.7-point edge, +0.1% 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.
GBCI vs SSB: side by side
| GBCI (Glacier Bancorp, Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +0.1% | +6.8% |
| 5-year return | +4.0% | +76.5% |
| Volatility (ann.) | 32.6% | 28.6% |
| Beta vs S&P 500 | 0.87 | 0.95 |
| Max drawdown (3Y) | -34.8% | -27.6% |
| Market cap | $6.2B | $10.3B |
| P/E (trailing) | 19.4 | 11.2 |
| Dividend yield | 2.80% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBCI | SSB |
|---|---|---|
| 2022 | -10.4% | -2.4% |
| 2023 | -13.0% | +13.8% |
| 2024 | +25.4% | +20.7% |
| 2025 | -9.6% | -3.1% |
| 2026 | +8.8% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBCI and SSB good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between GBCI and SSB?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.75 over the last year and 0.82 over 5 years.
Is SSB a good diversifier for GBCI?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 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: GBCI correlations · SSB correlations
