BHB vs BY: Correlation
Measured on weekly returns over the past three years, Bar Harbor Bankshares, Inc. (BHB) and Byline Bancorp, Inc. (BY) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHB and BY?
Over the past 3 years, BHB and BY moved with a correlation of 0.88, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.93 over 1 year against 0.88 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 664.8 %².
Few assets follow BHB as closely as BY, which ranks #1 of 21 tracked partners. On 12-month performance BY holds a 6.3-point edge, +26.2% against +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.
BHB vs BY: side by side
| BHB (Bar Harbor Bankshares, Inc.) | BY (Byline Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.2% | +32.5% |
| 5-year return | +75.3% | +66.2% |
| Volatility (ann.) | 28.3% | 26.8% |
| Beta vs S&P 500 | 0.67 | 0.80 |
| Max drawdown (3Y) | -27.1% | -27.2% |
| Market cap | $0.7B | $1.7B |
| P/E (trailing) | 13.3 | 11.5 |
| Dividend yield | 3.31% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHB | BY |
|---|---|---|
| 2022 | +14.8% | -14.7% |
| 2023 | -4.5% | +4.3% |
| 2024 | +8.6% | +25.0% |
| 2025 | +5.7% | +2.0% |
| 2026 | +29.9% | +32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHB and BY good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BHB and BY?
As of 2026-08-27, the correlation of weekly returns between BHB and BY is 0.88 over 3 years, 0.93 over 1 year and 0.80 over 5 years.
Is BY a good diversifier for BHB?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 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/bhb-vs-by.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bhb-vs-by/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHB correlations · BY correlations
