BY vs WASH: Correlation
Byline Bancorp, Inc. (BY) and Washington Trust Bancorp, Inc. (WASH) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and WASH?
Across a 3-year window, the weekly returns of BY and WASH correlate at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.83 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 776.8 %².
By 3-year correlation, WASH places #31 of the 70 assets tracked against BY. Over the last 12 months WASH came out ahead by 7.6 percentage points (+32.5% against +40.1%).
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 WASH: side by side
| BY (Byline Bancorp, Inc.) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +40.1% |
| 5-year return | +66.2% | +4.8% |
| Volatility (ann.) | 26.8% | 34.9% |
| Beta vs S&P 500 | 0.80 | 1.04 |
| Max drawdown (3Y) | -27.2% | -32.3% |
| Market cap | $1.7B | $0.8B |
| P/E (trailing) | 11.5 | 13.7 |
| Dividend yield | 1.15% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | WASH |
|---|---|---|
| 2022 | -14.7% | -12.5% |
| 2023 | +4.3% | -26.1% |
| 2024 | +25.0% | +2.7% |
| 2025 | +2.0% | +1.7% |
| 2026 | +32.7% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and WASH good diversifiers for each other?
No. With a correlation of 0.83, BY and WASH move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BY and WASH?
The BY/WASH correlation stands at 0.83 on a 3-year window (1 year: 0.76, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for BY?
No. With a correlation of 0.83, BY and WASH move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/by-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BY correlations · WASH correlations
