LCNB vs NODK: Correlation
Measured on weekly returns over the past three years, LCNB Corporation (LCNB) and NI Holdings, Inc. (NODK) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LCNB and NODK?
Across a 3-year window, the weekly returns of LCNB and NODK correlate at 0.43, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.43). Stretching to 5 years gives 0.34, with an annualized covariance of 289.0 %².
Within LCNB's tracked universe of 14 assets, NODK comes in at #8 by 3-year correlation. Over the last 12 months LCNB came out ahead by 12.7 percentage points (+27.4% against +14.7%).
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 NODK: side by side
| LCNB (LCNB Corporation) | NODK (NI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +27.4% | +14.7% |
| 5-year return | +43.8% | -21.2% |
| Volatility (ann.) | 29.6% | 22.7% |
| Beta vs S&P 500 | 0.49 | 0.27 |
| Max drawdown (3Y) | -23.8% | -28.4% |
| Market cap | $0.3B | $0.3B |
| P/E (trailing) | 11.2 | 40.1 |
| Dividend yield | 4.59% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LCNB | NODK |
|---|---|---|
| 2022 | -3.4% | -29.8% |
| 2023 | -7.5% | -2.1% |
| 2024 | +1.7% | +20.9% |
| 2025 | +14.7% | -15.3% |
| 2026 | +21.1% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LCNB and NODK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LCNB and NODK?
The LCNB/NODK correlation stands at 0.43 on a 3-year window (1 year: 0.28, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is NODK a good diversifier for LCNB?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: LCNB correlations · NODK correlations
