SBSI vs SPFI: Correlation
Measured on weekly returns over the past three years, Southside Bancshares, Inc. (SBSI) and South Plains Financial, Inc. (SPFI) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBSI and SPFI?
Over the past 3 years, SBSI and SPFI moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.64 versus 0.80 over 3 years. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 541.1 %².
Within SBSI's tracked universe of 20 assets, SPFI comes in at #8 by 3-year correlation. Their 12-month results are close: +6.4% for SBSI against +7.7% for SPFI.
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.
SBSI vs SPFI: side by side
| SBSI (Southside Bancshares, Inc.) | SPFI (South Plains Financial, Inc.) | |
|---|---|---|
| 1-year return | +6.4% | +7.7% |
| 5-year return | +7.0% | +108.3% |
| Volatility (ann.) | 24.6% | 27.6% |
| Beta vs S&P 500 | 0.59 | 0.61 |
| Max drawdown (3Y) | -27.3% | -23.8% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | 12.6 | 11.9 |
| Dividend yield | 4.49% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBSI | SPFI |
|---|---|---|
| 2022 | -10.8% | +0.7% |
| 2023 | -8.9% | +7.4% |
| 2024 | +6.3% | +22.2% |
| 2025 | +0.5% | +13.6% |
| 2026 | +8.5% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBSI and SPFI good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between SBSI and SPFI?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.64 over the last year and 0.67 over 5 years.
Is SPFI a good diversifier for SBSI?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SBSI correlations · SPFI correlations
