BY vs PFS: Correlation
Byline Bancorp, Inc. (BY) and Provident Financial Services, Inc (PFS) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and PFS?
Over the past 3 years, BY and PFS moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 721.5 %².
Among the 70 assets we track against BY, PFS ranks #6 by 3-year correlation. The trailing year gives BY the advantage: +32.5% versus +23.9%, a 8.6-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.
BY vs PFS: side by side
| BY (Byline Bancorp, Inc.) | PFS (Provident Financial Services, Inc) | |
|---|---|---|
| 1-year return | +32.5% | +23.9% |
| 5-year return | +66.2% | +37.5% |
| Volatility (ann.) | 26.8% | 30.4% |
| Beta vs S&P 500 | 0.80 | 0.87 |
| Max drawdown (3Y) | -27.2% | -31.3% |
| Market cap | $1.7B | $3.1B |
| P/E (trailing) | 11.5 | 9.8 |
| Dividend yield | 1.15% | 2.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | PFS |
|---|---|---|
| 2022 | -14.7% | -8.0% |
| 2023 | +4.3% | -10.8% |
| 2024 | +25.0% | +10.7% |
| 2025 | +2.0% | +10.2% |
| 2026 | +32.7% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and PFS good diversifiers for each other?
No: a correlation of 0.89 means BY and PFS tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BY and PFS?
The BY/PFS correlation stands at 0.89 on a 3-year window (1 year: 0.87, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is PFS a good diversifier for BY?
No: a correlation of 0.89 means BY and PFS tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 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/by-vs-pfs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/by-vs-pfs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BY correlations · PFS correlations
