BANC vs WAL: Correlation
Banc of California, Inc. (BANC) and Western Alliance Bancorporation (WAL) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANC and WAL?
Over the past 3 years, BANC and WAL moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 1047.7 %².
WAL is one of the assets that tracks BANC most closely: it ranks #1 out of the 14 assets we track against BANC. The last year tells two different stories: BANC led by 24.0 percentage points, +14.7% for BANC against -9.3% for WAL.
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.
BANC vs WAL: side by side
| BANC (Banc of California, Inc.) | WAL (Western Alliance Bancorporation) | |
|---|---|---|
| 1-year return | +14.7% | -9.3% |
| 5-year return | +18.5% | -9.7% |
| Volatility (ann.) | 33.4% | 39.5% |
| Beta vs S&P 500 | 1.08 | 1.51 |
| Max drawdown (3Y) | -31.2% | -36.0% |
| Market cap | $3.0B | $8.6B |
| P/E (trailing) | – | 9.0 |
| Dividend yield | 2.34% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANC | WAL |
|---|---|---|
| 2022 | -17.7% | -43.7% |
| 2023 | -13.0% | +14.1% |
| 2024 | +18.3% | +29.7% |
| 2025 | +28.0% | +2.5% |
| 2026 | -1.6% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANC and WAL good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BANC and WAL?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.75 over the last year and 0.73 over 5 years.
Is WAL a good diversifier for BANC?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 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: BANC correlations · WAL correlations
