NKSH vs SSB: Correlation
Measured on weekly returns over the past three years, National Bankshares, Inc. (NKSH) and SouthState Bank Corporation (SSB) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKSH and SSB?
Across a 3-year window, the weekly returns of NKSH and SSB correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 634.6 %².
By 3-year correlation, SSB places #5 of the 13 assets tracked against NKSH. Correlation aside, the last 12 months split them widely, with NKSH ahead by 29.8 points (+36.6% versus +6.8%).
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.
NKSH vs SSB: side by side
| NKSH (National Bankshares, Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +36.6% | +6.8% |
| 5-year return | +44.9% | +76.5% |
| Volatility (ann.) | 33.9% | 28.6% |
| Beta vs S&P 500 | 0.73 | 0.95 |
| Max drawdown (3Y) | -31.0% | -27.6% |
| Market cap | $0.3B | $10.3B |
| P/E (trailing) | 12.8 | 11.2 |
| Dividend yield | 3.75% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NKSH | SSB |
|---|---|---|
| 2022 | +17.2% | -2.4% |
| 2023 | -13.1% | +13.8% |
| 2024 | -6.8% | +20.7% |
| 2025 | +23.3% | -3.1% |
| 2026 | +24.0% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKSH and SSB good diversifiers for each other?
To a limited degree. At 0.66 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 NKSH and SSB?
As of 2026-08-27, the correlation of weekly returns between NKSH and SSB is 0.66 over 3 years, 0.65 over 1 year and 0.50 over 5 years.
Is SSB a good diversifier for NKSH?
To a limited degree. At 0.66 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 0.66 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.
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Related comparisons
Hubs: NKSH correlations · SSB correlations
