NBHC vs NBN: Correlation
How closely do National Bank Holdings Corporation (NBHC) and Northeast Bank (NBN) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBHC and NBN?
Across a 3-year window, the weekly returns of NBHC and NBN correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 594.4 %².
By 3-year correlation, NBN places #7 of the 18 assets tracked against NBHC. Over the last 12 months NBN came out ahead by 10.6 percentage points (+7.1% against +17.7%).
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.
NBHC vs NBN: side by side
| NBHC (National Bank Holdings Corporation) | NBN (Northeast Bank) | |
|---|---|---|
| 1-year return | +7.1% | +17.7% |
| 5-year return | +26.8% | +303.8% |
| Volatility (ann.) | 25.0% | 33.6% |
| Beta vs S&P 500 | 0.75 | 0.81 |
| Max drawdown (3Y) | -32.9% | -27.6% |
| Market cap | $1.8B | – |
| P/E (trailing) | 17.4 | 10.2 |
| Dividend yield | 3.07% | 0.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBHC | NBN |
|---|---|---|
| 2022 | -2.2% | +17.9% |
| 2023 | -8.8% | +31.2% |
| 2024 | +19.1% | +66.3% |
| 2025 | -8.9% | +13.3% |
| 2026 | +10.1% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBHC and NBN good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NBHC and NBN?
The NBHC/NBN correlation stands at 0.71 on a 3-year window (1 year: 0.65, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NBN a good diversifier for NBHC?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nbhc-vs-nbn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbhc-vs-nbn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NBHC correlations · NBN correlations
