PEBO vs SPFI: Correlation
How closely do Peoples Bancorp Inc. (PEBO) and South Plains Financial, Inc. (SPFI) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEBO and SPFI?
Over the past 3 years, PEBO and SPFI moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.77 over 1 year against 0.80 over 3. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 556.7 %².
By 3-year correlation, SPFI places #15 of the 26 assets tracked against PEBO. Correlation aside, the last 12 months split them widely, with PEBO ahead by 25.9 points (+33.6% versus +7.7%).
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.
PEBO vs SPFI: side by side
| PEBO (Peoples Bancorp Inc.) | SPFI (South Plains Financial, Inc.) | |
|---|---|---|
| 1-year return | +33.6% | +7.7% |
| 5-year return | +66.3% | +108.3% |
| Volatility (ann.) | 25.1% | 27.6% |
| Beta vs S&P 500 | 0.69 | 0.61 |
| Max drawdown (3Y) | -24.5% | -23.8% |
| Market cap | $1.4B | $0.8B |
| P/E (trailing) | 12.0 | 11.9 |
| Dividend yield | 4.18% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEBO | SPFI |
|---|---|---|
| 2022 | -6.6% | +0.7% |
| 2023 | +26.5% | +7.4% |
| 2024 | -1.0% | +22.2% |
| 2025 | +0.1% | +13.6% |
| 2026 | +36.7% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEBO and SPFI good diversifiers for each other?
No. With a correlation of 0.80, PEBO and SPFI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between PEBO and SPFI?
As of 2026-08-27, the correlation of weekly returns between PEBO and SPFI is 0.80 over 3 years, 0.77 over 1 year and 0.70 over 5 years.
Is SPFI a good diversifier for PEBO?
No. With a correlation of 0.80, PEBO and SPFI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 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: PEBO correlations · SPFI correlations
