CLBK vs NWBI: Correlation
Measured on weekly returns over the past three years, Columbia Financial, Inc. (CLBK) and Northwest Bancshares, Inc. (NWBI) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBK and NWBI?
On 3 years of weekly data the CLBK/NWBI correlation comes out at 0.77, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.77 over 3. The 5-year figure is 0.60, and annualized covariance runs at 579.4 %².
Among the 11 assets we track against CLBK, NWBI ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CLBK outperformed by 43.0 percentage points (+70.7% for CLBK against +27.7% for NWBI).
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.
CLBK vs NWBI: side by side
| CLBK (Columbia Financial, Inc.) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +70.7% | +27.7% |
| 5-year return | +45.5% | +62.0% |
| Volatility (ann.) | 30.1% | 24.9% |
| Beta vs S&P 500 | 0.64 | 0.60 |
| Max drawdown (3Y) | -33.9% | -26.6% |
| Market cap | $1.2B | $2.2B |
| P/E (trailing) | 21.3 | 14.9 |
| Dividend yield | 0.00% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLBK | NWBI |
|---|---|---|
| 2022 | +3.6% | +4.6% |
| 2023 | -10.8% | -4.4% |
| 2024 | -18.0% | +12.7% |
| 2025 | -1.7% | -2.9% |
| 2026 | +67.0% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBK and NWBI good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLBK and NWBI?
The CLBK/NWBI correlation stands at 0.77 on a 3-year window (1 year: 0.67, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is NWBI a good diversifier for CLBK?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clbk-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clbk-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLBK correlations · NWBI correlations
