BY vs GCBC: Correlation
How closely do Byline Bancorp, Inc. (BY) and Greene County Bancorp, Inc. (GCBC) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and GCBC?
On 3 years of weekly data the BY/GCBC correlation comes out at 0.65, strong. Recent behaviour matches the longer record: 0.59 over 1 year against 0.65 over 3. The 5-year figure is 0.48, and annualized covariance runs at 706.2 %².
Within BY's tracked universe of 70 assets, GCBC comes in at #56 by 3-year correlation. Over the last 12 months GCBC came out ahead by 14.6 percentage points (+32.5% against +47.1%). Risk is not evenly split, since GCBC carries 1.5 times the volatility of the other side.
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 GCBC: side by side
| BY (Byline Bancorp, Inc.) | GCBC (Greene County Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +47.1% |
| 5-year return | +66.2% | +139.6% |
| Volatility (ann.) | 26.8% | 40.5% |
| Beta vs S&P 500 | 0.80 | 0.75 |
| Max drawdown (3Y) | -27.2% | -42.9% |
| Market cap | $1.7B | $0.6B |
| P/E (trailing) | 11.5 | 14.4 |
| Dividend yield | 1.15% | 1.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | GCBC |
|---|---|---|
| 2022 | -14.7% | +57.9% |
| 2023 | +4.3% | -0.6% |
| 2024 | +25.0% | -0.6% |
| 2025 | +2.0% | -18.5% |
| 2026 | +32.7% | +57.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and GCBC good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BY and GCBC?
The BY/GCBC correlation stands at 0.65 on a 3-year window (1 year: 0.59, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is GCBC a good diversifier for BY?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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: BY correlations · GCBC correlations
