PEBO vs TCBK: Correlation
How closely do Peoples Bancorp Inc. (PEBO) and TriCo Bancshares (TCBK) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEBO and TCBK?
Over the past 3 years, PEBO and TCBK moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.69) runs below the 3-year figure (0.84). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 612.7 %².
Among the 26 assets we track against PEBO, TCBK ranks #12 by 3-year correlation. The trailing year gives PEBO the advantage: +33.6% versus +21.9%, a 11.7-point spread.
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 TCBK: side by side
| PEBO (Peoples Bancorp Inc.) | TCBK (TriCo Bancshares) | |
|---|---|---|
| 1-year return | +33.6% | +21.9% |
| 5-year return | +66.3% | +59.3% |
| Volatility (ann.) | 25.1% | 29.1% |
| Beta vs S&P 500 | 0.69 | 0.76 |
| Max drawdown (3Y) | -24.5% | -27.9% |
| Market cap | $1.4B | $1.7B |
| P/E (trailing) | 12.0 | 13.0 |
| Dividend yield | 4.18% | 2.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEBO | TCBK |
|---|---|---|
| 2022 | -6.6% | +21.5% |
| 2023 | +26.5% | -13.0% |
| 2024 | -1.0% | +5.1% |
| 2025 | +0.1% | +11.9% |
| 2026 | +36.7% | +15.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEBO and TCBK good diversifiers for each other?
No. With a correlation of 0.84, PEBO and TCBK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between PEBO and TCBK?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.69 over the last year and 0.72 over 5 years.
Is TCBK a good diversifier for PEBO?
No. With a correlation of 0.84, PEBO and TCBK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pebo-vs-tcbk.json
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[](https://www.pairbook.io/pair/pebo-vs-tcbk/)
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Related comparisons
Hubs: PEBO correlations · TCBK correlations
