CBNK vs NWBI: Correlation
How closely do Capital Bancorp, Inc. (CBNK) and Northwest Bancshares, Inc. (NWBI) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBNK and NWBI?
Across a 3-year window, the weekly returns of CBNK and NWBI correlate at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 575.0 %².
NWBI is one of the assets that tracks CBNK most closely: it ranks #1 out of the 18 assets we track against CBNK. Correlation aside, the last 12 months split them widely, with NWBI ahead by 20.4 points (+7.3% versus +27.7%).
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.
CBNK vs NWBI: side by side
| CBNK (Capital Bancorp, Inc.) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +7.3% | +27.7% |
| 5-year return | +69.0% | +62.0% |
| Volatility (ann.) | 27.3% | 24.9% |
| Beta vs S&P 500 | 0.63 | 0.60 |
| Max drawdown (3Y) | -24.8% | -26.6% |
| Market cap | $0.6B | $2.2B |
| P/E (trailing) | 10.7 | 14.9 |
| Dividend yield | 1.32% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBNK | NWBI |
|---|---|---|
| 2022 | -9.3% | +4.6% |
| 2023 | +4.3% | -4.4% |
| 2024 | +19.7% | +12.7% |
| 2025 | +0.3% | -2.9% |
| 2026 | +30.5% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBNK and NWBI good diversifiers for each other?
No. With a correlation of 0.85, CBNK and NWBI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CBNK and NWBI?
The CBNK/NWBI correlation stands at 0.85 on a 3-year window (1 year: 0.86, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is NWBI a good diversifier for CBNK?
No. With a correlation of 0.85, CBNK and NWBI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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/cbnk-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbnk-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBNK correlations · NWBI correlations
