LCNB vs NKSH: Correlation
How closely do LCNB Corporation (LCNB) and National Bankshares, Inc. (NKSH) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LCNB and NKSH?
On 3 years of weekly data the LCNB/NKSH correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.67 over 3. The 5-year figure is 0.57, and annualized covariance runs at 670.5 %².
Among the 14 assets we track against LCNB, NKSH ranks #6 by 3-year correlation. The trailing year gives NKSH the advantage: +27.4% versus +36.6%, a 9.2-point spread.
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.
LCNB vs NKSH: side by side
| LCNB (LCNB Corporation) | NKSH (National Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +27.4% | +36.6% |
| 5-year return | +43.8% | +44.9% |
| Volatility (ann.) | 29.6% | 33.9% |
| Beta vs S&P 500 | 0.49 | 0.73 |
| Max drawdown (3Y) | -23.8% | -31.0% |
| Market cap | $0.3B | $0.3B |
| P/E (trailing) | 11.2 | 12.8 |
| Dividend yield | 4.59% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LCNB | NKSH |
|---|---|---|
| 2022 | -3.4% | +17.2% |
| 2023 | -7.5% | -13.1% |
| 2024 | +1.7% | -6.8% |
| 2025 | +14.7% | +23.3% |
| 2026 | +21.1% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LCNB and NKSH good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LCNB and NKSH?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.66 over the last year and 0.57 over 5 years.
Is NKSH a good diversifier for LCNB?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/lcnb-vs-nksh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lcnb-vs-nksh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LCNB correlations · NKSH correlations
