BFC vs BY: Correlation
Measured on weekly returns over the past three years, Bank First Corporation (BFC) and Byline Bancorp, Inc. (BY) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFC and BY?
Over the past 3 years, BFC and BY moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 549.8 %².
Few assets follow BFC as closely as BY, which ranks #1 of 13 tracked partners. The trailing year gives BY the advantage: +18.4% versus +32.5%, a 14.1-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.
BFC vs BY: side by side
| BFC (Bank First Corporation) | BY (Byline Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +18.4% | +32.5% |
| 5-year return | +139.3% | +66.2% |
| Volatility (ann.) | 26.7% | 26.8% |
| Beta vs S&P 500 | 0.70 | 0.80 |
| Max drawdown (3Y) | -15.7% | -27.2% |
| Market cap | $1.7B | $1.7B |
| P/E (trailing) | 20.0 | 11.5 |
| Dividend yield | 1.27% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFC | BY |
|---|---|---|
| 2022 | +30.0% | -14.7% |
| 2023 | -5.3% | +4.3% |
| 2024 | +16.4% | +25.0% |
| 2025 | +28.7% | +2.0% |
| 2026 | +25.6% | +32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFC and BY good diversifiers for each other?
To a limited degree. At 0.77 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 BFC and BY?
The BFC/BY correlation stands at 0.77 on a 3-year window (1 year: 0.77, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is BY a good diversifier for BFC?
To a limited degree. At 0.77 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 0.77 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bfc-vs-by.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bfc-vs-by/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BFC correlations · BY correlations
