BHB vs WTBA: Correlation
Measured on weekly returns over the past three years, Bar Harbor Bankshares, Inc. (BHB) and West Bancorporation (WTBA) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHB and WTBA?
On 3 years of weekly data the BHB/WTBA correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.85 over 3. The 5-year figure is 0.80, and annualized covariance runs at 732.6 %².
Within BHB's tracked universe of 21 assets, WTBA comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WTBA outperformed by 21.7 percentage points (+26.2% for BHB against +47.9% for WTBA).
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 WTBA: side by side
| BHB (Bar Harbor Bankshares, Inc.) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +26.2% | +47.9% |
| 5-year return | +75.3% | +16.8% |
| Volatility (ann.) | 28.3% | 30.5% |
| Beta vs S&P 500 | 0.67 | 0.75 |
| Max drawdown (3Y) | -27.1% | -26.9% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | 13.3 | 12.6 |
| Dividend yield | 3.31% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHB | WTBA |
|---|---|---|
| 2022 | +14.8% | -14.4% |
| 2023 | -4.5% | -12.4% |
| 2024 | +8.6% | +7.7% |
| 2025 | +5.7% | +7.7% |
| 2026 | +29.9% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHB and WTBA good diversifiers for each other?
No. With a correlation of 0.85, BHB and WTBA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BHB and WTBA?
The BHB/WTBA correlation stands at 0.85 on a 3-year window (1 year: 0.78, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is WTBA a good diversifier for BHB?
No. With a correlation of 0.85, BHB and WTBA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 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: BHB correlations · WTBA correlations
