NYC vs RBKB: Correlation
How closely do American Strategic Investment Co. (NYC) and Rhinebeck Bancorp, Inc. (RBKB) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NYC and RBKB?
On 3 years of weekly data the NYC/RBKB correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.22 over 3 years. The 5-year figure is -0.00, and annualized covariance runs at -386.0 %².
RBKB is close to the least connected end of NYC's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with RBKB ahead by 71.1 points (-39.6% versus +31.5%). Note the risk asymmetry: NYC runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NYC vs RBKB: side by side
| NYC (American Strategic Investment Co.) | RBKB (Rhinebeck Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -39.6% | +31.5% |
| 5-year return | -9.2% | +64.9% |
| Volatility (ann.) | 59.5% | 29.5% |
| Beta vs S&P 500 | 0.56 | 0.08 |
| Max drawdown (3Y) | -60.0% | -30.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | 1.2 | 14.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NYC | RBKB |
|---|---|---|
| 2022 | -80.8% | -14.5% |
| 2023 | +350.3% | -11.6% |
| 2024 | +6.5% | +20.1% |
| 2025 | -2.4% | +24.3% |
| 2026 | -21.9% | +46.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NYC and RBKB good diversifiers for each other?
Yes. With a correlation of -0.22, NYC and RBKB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NYC and RBKB?
As of 2026-08-27, the correlation of weekly returns between NYC and RBKB is -0.22 over 3 years, -0.34 over 1 year and -0.00 over 5 years.
Is RBKB a good diversifier for NYC?
Yes. With a correlation of -0.22, NYC and RBKB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/nyc-vs-rbkb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nyc-vs-rbkb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NYC correlations · RBKB correlations
