SSB vs TOWN: Correlation
How closely do SouthState Bank Corporation (SSB) and Towne Bank (TOWN) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSB and TOWN?
On 3 years of weekly data the SSB/TOWN correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.77) than the 3-year average (0.88). The 5-year figure is 0.86, and annualized covariance runs at 629.7 %².
Among the 32 assets we track against SSB, TOWN ranks #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +6.8% for SSB and +6.7% for TOWN.
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.
SSB vs TOWN: side by side
| SSB (SouthState Bank Corporation) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +6.8% | +6.7% |
| 5-year return | +76.5% | +47.6% |
| Volatility (ann.) | 28.6% | 25.0% |
| Beta vs S&P 500 | 0.95 | 0.77 |
| Max drawdown (3Y) | -27.6% | -18.4% |
| Market cap | $10.3B | $3.5B |
| P/E (trailing) | 11.2 | 18.0 |
| Dividend yield | 2.26% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SSB | TOWN |
|---|---|---|
| 2022 | -2.4% | +0.7% |
| 2023 | +13.8% | +0.3% |
| 2024 | +20.7% | +18.3% |
| 2025 | -3.1% | +1.0% |
| 2026 | +14.7% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSB and TOWN good diversifiers for each other?
No. With a correlation of 0.88, SSB and TOWN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between SSB and TOWN?
The SSB/TOWN correlation stands at 0.88 on a 3-year window (1 year: 0.77, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is TOWN a good diversifier for SSB?
No. With a correlation of 0.88, SSB and TOWN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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.
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Related comparisons
Hubs: SSB correlations · TOWN correlations
