NTB vs TRMK: Correlation
Measured on weekly returns over the past three years, Bank of N.T. Butterfield & Son Limited (The) Voting (NTB) and Trustmark Corporation (TRMK) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTB and TRMK?
Over the past 3 years, NTB and TRMK moved with a correlation of 0.75, which is strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.75). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 473.1 %².
Among the 12 assets we track against NTB, TRMK ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NTB outperformed by 17.5 percentage points (+34.0% for NTB against +16.5% for TRMK).
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.
NTB vs TRMK: side by side
| NTB (Bank of N.T. Butterfield & Son Limited (The) Voting) | TRMK (Trustmark Corporation) | |
|---|---|---|
| 1-year return | +34.0% | +16.5% |
| 5-year return | +125.2% | +69.7% |
| Volatility (ann.) | 23.5% | 27.0% |
| Beta vs S&P 500 | 0.71 | 0.91 |
| Max drawdown (3Y) | -14.7% | -22.0% |
| Market cap | $2.3B | $2.7B |
| P/E (trailing) | 10.4 | 11.8 |
| Dividend yield | 3.39% | 2.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTB | TRMK |
|---|---|---|
| 2022 | -17.5% | +10.7% |
| 2023 | +14.3% | -17.0% |
| 2024 | +20.2% | +30.6% |
| 2025 | +41.0% | +13.0% |
| 2026 | +21.9% | +20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTB and TRMK good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NTB and TRMK?
As of 2026-08-27, the correlation of weekly returns between NTB and TRMK is 0.75 over 3 years, 0.49 over 1 year and 0.65 over 5 years.
Is TRMK a good diversifier for NTB?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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: NTB correlations · TRMK correlations
