IBCP vs KRNY: Correlation
How closely do Independent Bank Corporation (IBCP) and Kearny Financial (KRNY) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBCP and KRNY?
Across a 3-year window, the weekly returns of IBCP and KRNY correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 807.0 %².
Within IBCP's tracked universe of 15 assets, KRNY comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KRNY outperformed by 46.5 percentage points (+13.7% for IBCP against +60.2% for KRNY).
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.
IBCP vs KRNY: side by side
| IBCP (Independent Bank Corporation) | KRNY (Kearny Financial) | |
|---|---|---|
| 1-year return | +13.7% | +60.2% |
| 5-year return | +112.7% | +2.4% |
| Volatility (ann.) | 28.7% | 33.5% |
| Beta vs S&P 500 | 0.77 | 0.79 |
| Max drawdown (3Y) | -27.5% | -41.5% |
| Market cap | $0.8B | $0.6B |
| P/E (trailing) | 10.6 | 17.3 |
| Dividend yield | 2.94% | 4.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBCP | KRNY |
|---|---|---|
| 2022 | +4.3% | -20.4% |
| 2023 | +14.0% | -6.7% |
| 2024 | +38.5% | -15.5% |
| 2025 | -3.5% | +12.0% |
| 2026 | +15.3% | +40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBCP and KRNY good diversifiers for each other?
No. With a correlation of 0.84, IBCP and KRNY move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between IBCP and KRNY?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.81 over the last year and 0.76 over 5 years.
Is KRNY a good diversifier for IBCP?
No. With a correlation of 0.84, IBCP and KRNY move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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/ibcp-vs-krny.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibcp-vs-krny/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBCP correlations · KRNY correlations
