GBCI vs UNB: Correlation
How closely do Glacier Bancorp, Inc. (GBCI) and Union Bankshares, Inc. (UNB) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBCI and UNB?
Across a 3-year window, the weekly returns of GBCI and UNB correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 526.2 %².
By 3-year correlation, UNB places #10 of the 15 assets tracked against GBCI. On 12-month performance GBCI holds a 5.6-point edge, +0.1% against -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.
GBCI vs UNB: side by side
| GBCI (Glacier Bancorp, Inc.) | UNB (Union Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +0.1% | -5.5% |
| 5-year return | +4.0% | -7.4% |
| Volatility (ann.) | 32.6% | 34.7% |
| Beta vs S&P 500 | 0.87 | 0.57 |
| Max drawdown (3Y) | -34.8% | -40.1% |
| Market cap | $6.2B | $0.1B |
| P/E (trailing) | 19.4 | 9.1 |
| Dividend yield | 2.80% | 6.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBCI | UNB |
|---|---|---|
| 2022 | -10.4% | -15.4% |
| 2023 | -13.0% | +35.3% |
| 2024 | +25.4% | -0.7% |
| 2025 | -9.6% | -13.8% |
| 2026 | +8.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBCI and UNB good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GBCI and UNB?
As of 2026-08-27, the correlation of weekly returns between GBCI and UNB is 0.46 over 3 years, 0.55 over 1 year and 0.39 over 5 years.
Is UNB a good diversifier for GBCI?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gbci-vs-unb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gbci-vs-unb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBCI correlations · UNB correlations
