ONL vs SSB: Correlation
Orion Properties Inc. (ONL) and SouthState Bank Corporation (SSB) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONL and SSB?
On 3 years of weekly data the ONL/SSB correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.58 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 845.5 %².
SSB is one of the assets that tracks ONL most closely: it ranks #2 out of the 14 assets we track against ONL. Twelve-month performance is nearly a tie, at +3.4% for ONL and +6.8% for SSB. One caveat on sizing: ONL is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ONL vs SSB: side by side
| ONL (Orion Properties Inc.) | SSB (SouthState Bank Corporation) | |
|---|---|---|
| 1-year return | +3.4% | +6.8% |
| 5-year return | -79.8% | +76.5% |
| Volatility (ann.) | 51.4% | 28.6% |
| Beta vs S&P 500 | 1.30 | 0.95 |
| Max drawdown (3Y) | -71.5% | -27.6% |
| Market cap | $0.2B | $10.3B |
| P/E (trailing) | – | 11.2 |
| Dividend yield | 2.85% | 2.26% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONL | SSB |
|---|---|---|
| 2022 | -52.4% | -2.4% |
| 2023 | -28.4% | +13.8% |
| 2024 | -27.4% | +20.7% |
| 2025 | -36.9% | -3.1% |
| 2026 | +30.1% | +14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONL and SSB good diversifiers for each other?
To a limited degree. At 0.58 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 ONL and SSB?
The ONL/SSB correlation stands at 0.58 on a 3-year window (1 year: 0.33, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is SSB a good diversifier for ONL?
To a limited degree. At 0.58 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 0.58 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: ONL correlations · SSB correlations
