BHRB vs NWBI: Correlation
Burke & Herbert Financial Services Corp. (BHRB) and Northwest Bancshares, Inc. (NWBI) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHRB and NWBI?
Over the past 3 years, BHRB and NWBI moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.80 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 636.6 %².
By 3-year correlation, NWBI places #5 of the 16 assets tracked against BHRB. The trailing year gives NWBI the advantage: +16.0% versus +27.7%, a 11.7-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.
BHRB vs NWBI: side by side
| BHRB (Burke & Herbert Financial Services Corp.) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +16.0% | +27.7% |
| 5-year return | +57.3% | +62.0% |
| Volatility (ann.) | 31.8% | 24.9% |
| Beta vs S&P 500 | 0.74 | 0.60 |
| Max drawdown (3Y) | -30.8% | -26.6% |
| Market cap | $1.4B | $2.2B |
| P/E (trailing) | 11.7 | 14.9 |
| Dividend yield | 3.07% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHRB | NWBI |
|---|---|---|
| 2022 | +33.3% | +4.6% |
| 2023 | -7.8% | -4.4% |
| 2024 | +2.9% | +12.7% |
| 2025 | +3.6% | -2.9% |
| 2026 | +17.8% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHRB and NWBI good diversifiers for each other?
No. With a correlation of 0.80, BHRB and NWBI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BHRB and NWBI?
The BHRB/NWBI correlation stands at 0.80 on a 3-year window (1 year: 0.82, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is NWBI a good diversifier for BHRB?
No. With a correlation of 0.80, BHRB and NWBI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 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/bhrb-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhrb-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BHRB correlations · NWBI correlations
