CATY vs WABC: Correlation
Cathay General Bancorp (CATY) and Westamerica Bancorporation (WABC) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and WABC?
On 3 years of weekly data the CATY/WABC correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.70) runs below the 3-year figure (0.82). The 5-year figure is 0.79, and annualized covariance runs at 539.7 %².
Among the 28 assets we track against CATY, WABC ranks #14 by 3-year correlation. On 12-month performance CATY holds a 6.9-point edge, +26.7% against +19.8%.
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.
CATY vs WABC: side by side
| CATY (Cathay General Bancorp) | WABC (Westamerica Bancorporation) | |
|---|---|---|
| 1-year return | +26.7% | +19.8% |
| 5-year return | +83.2% | +22.6% |
| Volatility (ann.) | 26.8% | 24.4% |
| Beta vs S&P 500 | 0.82 | 0.61 |
| Max drawdown (3Y) | -29.7% | -24.7% |
| Market cap | $4.1B | $1.3B |
| P/E (trailing) | 12.1 | 12.9 |
| Dividend yield | 2.39% | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | WABC |
|---|---|---|
| 2022 | -2.1% | +5.2% |
| 2023 | +13.5% | -0.8% |
| 2024 | +10.3% | -3.6% |
| 2025 | +4.6% | -5.4% |
| 2026 | +30.2% | +24.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and WABC good diversifiers for each other?
No: a correlation of 0.82 means CATY and WABC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CATY and WABC?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.70 over the last year and 0.79 over 5 years.
Is WABC a good diversifier for CATY?
No: a correlation of 0.82 means CATY and WABC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
A reading of 0.82 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/caty-vs-wabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caty-vs-wabc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CATY correlations · WABC correlations
