BWFG vs FRAF: Correlation
Bankwell Financial Group, Inc. (BWFG) and Franklin Financial Services Corporation (FRAF) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWFG and FRAF?
Across a 3-year window, the weekly returns of BWFG and FRAF correlate at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.41). Stretching to 5 years gives 0.40, with an annualized covariance of 347.9 %².
Among the 13 assets we track against BWFG, FRAF ranks #7 by 3-year correlation. The last year tells two different stories: BWFG led by 20.7 percentage points, +57.5% for BWFG against +36.8% for FRAF.
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.
BWFG vs FRAF: side by side
| BWFG (Bankwell Financial Group, Inc.) | FRAF (Franklin Financial Services Corporation) | |
|---|---|---|
| 1-year return | +57.5% | +36.8% |
| 5-year return | +149.4% | +133.8% |
| Volatility (ann.) | 26.8% | 31.7% |
| Beta vs S&P 500 | 0.73 | 0.22 |
| Max drawdown (3Y) | -24.7% | -25.5% |
| Market cap | $0.5B | $0.3B |
| P/E (trailing) | 12.3 | 11.3 |
| Dividend yield | 1.22% | 2.14% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWFG | FRAF |
|---|---|---|
| 2022 | -8.2% | +13.5% |
| 2023 | +5.8% | -8.8% |
| 2024 | +6.4% | -1.4% |
| 2025 | +50.3% | +73.5% |
| 2026 | +46.3% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWFG and FRAF good diversifiers for each other?
Reasonably. At 0.41, BWFG and FRAF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BWFG and FRAF?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.58 over the last year and 0.40 over 5 years.
Is FRAF a good diversifier for BWFG?
Reasonably. At 0.41, BWFG and FRAF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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/bwfg-vs-fraf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwfg-vs-fraf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWFG correlations · FRAF correlations
