AGM vs BY: Correlation
Federal Agricultural Mortgage Corporation (AGM) and Byline Bancorp, Inc. (BY) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGM and BY?
On 3 years of weekly data the AGM/BY correlation comes out at 0.66, strong. The past 12 months show a weaker link (0.39) than the 3-year average (0.66). The 5-year figure is 0.64, and annualized covariance runs at 531.6 %².
In AGM's tracked universe of 16 assets, BY sits right near the top at #2. Correlation aside, the last 12 months split them widely, with BY ahead by 21.1 points (+11.4% versus +32.5%).
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.
AGM vs BY: side by side
| AGM (Federal Agricultural Mortgage Corporation) | BY (Byline Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +11.4% | +32.5% |
| 5-year return | +167.7% | +66.2% |
| Volatility (ann.) | 30.2% | 26.8% |
| Beta vs S&P 500 | 0.85 | 0.80 |
| Max drawdown (3Y) | -32.5% | -27.2% |
| Market cap | $2.4B | $1.7B |
| P/E (trailing) | 11.9 | 11.5 |
| Dividend yield | 2.84% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGM | BY |
|---|---|---|
| 2022 | -5.8% | -14.7% |
| 2023 | +74.6% | +4.3% |
| 2024 | +6.1% | +25.0% |
| 2025 | -8.0% | +2.0% |
| 2026 | +29.3% | +32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGM and BY good diversifiers for each other?
To a limited degree. At 0.66 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 AGM and BY?
As of 2026-08-27, the correlation of weekly returns between AGM and BY is 0.66 over 3 years, 0.39 over 1 year and 0.64 over 5 years.
Is BY a good diversifier for AGM?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agm-vs-by.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/agm-vs-by/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGM correlations · BY correlations
