BY vs SPFI: Correlation
How closely do Byline Bancorp, Inc. (BY) and South Plains Financial, Inc. (SPFI) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and SPFI?
On 3 years of weekly data the BY/SPFI correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.81 over 3. The 5-year figure is 0.70, and annualized covariance runs at 600.9 %².
By 3-year correlation, SPFI places #37 of the 70 assets tracked against BY. The last year tells two different stories: BY led by 24.8 percentage points, +32.5% for BY against +7.7% for SPFI.
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 SPFI: side by side
| BY (Byline Bancorp, Inc.) | SPFI (South Plains Financial, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +7.7% |
| 5-year return | +66.2% | +108.3% |
| Volatility (ann.) | 26.8% | 27.6% |
| Beta vs S&P 500 | 0.80 | 0.61 |
| Max drawdown (3Y) | -27.2% | -23.8% |
| Market cap | $1.7B | $0.8B |
| P/E (trailing) | 11.5 | 11.9 |
| Dividend yield | 1.15% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | SPFI |
|---|---|---|
| 2022 | -14.7% | +0.7% |
| 2023 | +4.3% | +7.4% |
| 2024 | +25.0% | +22.2% |
| 2025 | +2.0% | +13.6% |
| 2026 | +32.7% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and SPFI good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BY and SPFI?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.82 over the last year and 0.70 over 5 years.
Is SPFI a good diversifier for BY?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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-spfi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/by-vs-spfi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BY correlations · SPFI correlations
