COFS vs WTBA: Correlation
How closely do ChoiceOne Financial Services, Inc. (COFS) and West Bancorporation (WTBA) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COFS and WTBA?
Across a 3-year window, the weekly returns of COFS and WTBA correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 753.0 %².
Few assets follow COFS as closely as WTBA, which ranks #3 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months WTBA outperformed by 37.2 percentage points (+10.7% for COFS against +47.9% for WTBA).
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.
COFS vs WTBA: side by side
| COFS (ChoiceOne Financial Services, Inc.) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +10.7% | +47.9% |
| 5-year return | +66.4% | +16.8% |
| Volatility (ann.) | 36.3% | 30.5% |
| Beta vs S&P 500 | 0.84 | 0.75 |
| Max drawdown (3Y) | -34.9% | -26.9% |
| Market cap | $0.5B | $0.5B |
| P/E (trailing) | 8.8 | 12.6 |
| Dividend yield | 3.43% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COFS | WTBA |
|---|---|---|
| 2022 | +14.4% | -14.4% |
| 2023 | +5.3% | -12.4% |
| 2024 | +26.3% | +7.7% |
| 2025 | -14.0% | +7.7% |
| 2026 | +14.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COFS and WTBA good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between COFS and WTBA?
The COFS/WTBA correlation stands at 0.68 on a 3-year window (1 year: 0.68, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is WTBA a good diversifier for COFS?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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.
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Related comparisons
Hubs: COFS correlations · WTBA correlations
