BY vs CAC: Correlation
How closely do Byline Bancorp, Inc. (BY) and Camden National Corporation (CAC) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and CAC?
On 3 years of weekly data the BY/CAC correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.87 over 3. The 5-year figure is 0.76, and annualized covariance runs at 675.7 %².
Among the 70 assets we track against BY, CAC ranks #12 by 3-year correlation. On 12-month performance CAC holds a 10.8-point edge, +32.5% against +43.3%.
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.
BY vs CAC: side by side
| BY (Byline Bancorp, Inc.) | CAC (Camden National Corporation) | |
|---|---|---|
| 1-year return | +32.5% | +43.3% |
| 5-year return | +66.2% | +51.3% |
| Volatility (ann.) | 26.8% | 29.0% |
| Beta vs S&P 500 | 0.80 | 0.87 |
| Max drawdown (3Y) | -27.2% | -26.0% |
| Market cap | $1.7B | $1.0B |
| P/E (trailing) | 11.5 | 10.9 |
| Dividend yield | 1.15% | 2.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | CAC |
|---|---|---|
| 2022 | -14.7% | -10.3% |
| 2023 | +4.3% | -5.0% |
| 2024 | +25.0% | +19.1% |
| 2025 | +2.0% | +5.8% |
| 2026 | +32.7% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and CAC good diversifiers for each other?
No: a correlation of 0.87 means BY and CAC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BY and CAC?
The BY/CAC correlation stands at 0.87 on a 3-year window (1 year: 0.88, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is CAC a good diversifier for BY?
No: a correlation of 0.87 means BY and CAC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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/by-vs-cac.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/by-vs-cac/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BY correlations · CAC correlations
