CCNE vs WHG: Correlation
How closely do CNB Financial Corporation (CCNE) and Westwood Holdings Group Inc (WHG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and WHG?
Across a 3-year window, the weekly returns of CCNE and WHG correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.43 over 3 years. Stretching to 5 years gives 0.35, with an annualized covariance of 415.6 %².
By 3-year correlation, WHG places #21 of the 27 assets tracked against CCNE. Their recent paths diverged sharply: over the last 12 months CCNE outperformed by 15.8 percentage points (+30.2% for CCNE against +14.4% for WHG).
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.
CCNE vs WHG: side by side
| CCNE (CNB Financial Corporation) | WHG (Westwood Holdings Group Inc) | |
|---|---|---|
| 1-year return | +30.2% | +14.4% |
| 5-year return | +61.1% | +12.6% |
| Volatility (ann.) | 29.0% | 33.1% |
| Beta vs S&P 500 | 0.84 | 0.61 |
| Max drawdown (3Y) | -29.7% | -21.2% |
| Market cap | $1.0B | $0.2B |
| P/E (trailing) | 10.6 | 22.8 |
| Dividend yield | 2.18% | 3.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | WHG |
|---|---|---|
| 2022 | -7.8% | -31.4% |
| 2023 | -1.6% | +19.0% |
| 2024 | +13.6% | +20.9% |
| 2025 | +8.4% | +23.1% |
| 2026 | +31.5% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and WHG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CCNE and WHG?
As of 2026-08-27, the correlation of weekly returns between CCNE and WHG is 0.43 over 3 years, 0.29 over 1 year and 0.35 over 5 years.
Is WHG a good diversifier for CCNE?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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
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[](https://www.pairbook.io/pair/ccne-vs-whg/)
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Related comparisons
Hubs: CCNE correlations · WHG correlations
