BSRR vs NTB: Correlation
How closely do Sierra Bancorp (BSRR) and Bank of N.T. Butterfield & Son Limited (The) Voting (NTB) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSRR and NTB?
On 3 years of weekly data the BSRR/NTB correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 561.1 %².
Within BSRR's tracked universe of 14 assets, NTB comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +32.6% against +34.0%.
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.
BSRR vs NTB: side by side
| BSRR (Sierra Bancorp) | NTB (Bank of N.T. Butterfield & Son Limited (The) Voting) | |
|---|---|---|
| 1-year return | +32.6% | +34.0% |
| 5-year return | +91.2% | +125.2% |
| Volatility (ann.) | 31.7% | 23.5% |
| Beta vs S&P 500 | 0.83 | 0.71 |
| Max drawdown (3Y) | -29.1% | -14.7% |
| Market cap | $0.5B | $2.3B |
| P/E (trailing) | 11.7 | 10.4 |
| Dividend yield | 2.63% | 3.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSRR | NTB |
|---|---|---|
| 2022 | -18.6% | -17.5% |
| 2023 | +11.5% | +14.3% |
| 2024 | +33.3% | +20.2% |
| 2025 | +17.0% | +41.0% |
| 2026 | +24.4% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSRR and NTB good diversifiers for each other?
Only partially. A correlation of 0.75 means BSRR and NTB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BSRR and NTB?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.67 over the last year and 0.65 over 5 years.
Is NTB a good diversifier for BSRR?
Only partially. A correlation of 0.75 means BSRR and NTB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bsrr-vs-ntb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bsrr-vs-ntb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSRR correlations · NTB correlations
