ONB vs SIBN: Correlation
Old National Bancorp (ONB) and SI-BONE, Inc. (SIBN) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONB and SIBN?
Over the past 3 years, ONB and SIBN moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.11) than the 3-year average (0.45). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 684.8 %².
Among the 26 assets we track against ONB, SIBN ranks #21 by 3-year correlation. Neither side won the trailing year by much: +15.1% against +15.7%. Risk is not evenly split, since SIBN carries 1.8 times the volatility of the other side.
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.
ONB vs SIBN: side by side
| ONB (Old National Bancorp) | SIBN (SI-BONE, Inc.) | |
|---|---|---|
| 1-year return | +15.1% | +15.7% |
| 5-year return | +81.8% | -19.1% |
| Volatility (ann.) | 29.0% | 52.2% |
| Beta vs S&P 500 | 1.07 | 0.73 |
| Max drawdown (3Y) | -26.1% | -49.3% |
| Market cap | $9.9B | $0.9B |
| P/E (trailing) | 11.4 | – |
| Dividend yield | 2.21% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONB | SIBN |
|---|---|---|
| 2022 | +2.5% | -38.8% |
| 2023 | -2.5% | +54.3% |
| 2024 | +32.5% | -33.2% |
| 2025 | +5.4% | +40.7% |
| 2026 | +17.3% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONB and SIBN good diversifiers for each other?
Reasonably. At 0.45, ONB and SIBN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ONB and SIBN?
As of 2026-08-27, the correlation of weekly returns between ONB and SIBN is 0.45 over 3 years, 0.11 over 1 year and 0.31 over 5 years.
Is SIBN a good diversifier for ONB?
Reasonably. At 0.45, ONB and SIBN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/onb-vs-sibn.json
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Related comparisons
Hubs: ONB correlations · SIBN correlations
