CVBF vs WABC: Correlation
CVB Financial Corporation (CVBF) and Westamerica Bancorporation (WABC) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVBF and WABC?
Over the past 3 years, CVBF and WABC moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.70 versus 0.83 over 3 years. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 604.5 %².
Within CVBF's tracked universe of 16 assets, WABC comes in at #6 by 3-year correlation. Over the last 12 months WABC came out ahead by 6.2 percentage points (+13.6% 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.
CVBF vs WABC: side by side
| CVBF (CVB Financial Corporation) | WABC (Westamerica Bancorporation) | |
|---|---|---|
| 1-year return | +13.6% | +19.8% |
| 5-year return | +34.8% | +22.6% |
| Volatility (ann.) | 29.8% | 24.4% |
| Beta vs S&P 500 | 0.82 | 0.61 |
| Max drawdown (3Y) | -30.2% | -24.7% |
| Market cap | $3.9B | $1.3B |
| P/E (trailing) | 15.5 | 12.9 |
| Dividend yield | 3.57% | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVBF | WABC |
|---|---|---|
| 2022 | +24.0% | +5.2% |
| 2023 | -18.5% | -0.8% |
| 2024 | +11.9% | -3.6% |
| 2025 | -9.4% | -5.4% |
| 2026 | +22.2% | +24.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVBF and WABC good diversifiers for each other?
No: a correlation of 0.83 means CVBF and WABC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CVBF and WABC?
As of 2026-08-27, the correlation of weekly returns between CVBF and WABC is 0.83 over 3 years, 0.70 over 1 year and 0.80 over 5 years.
Is WABC a good diversifier for CVBF?
No: a correlation of 0.83 means CVBF and WABC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 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/cvbf-vs-wabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvbf-vs-wabc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVBF correlations · WABC correlations
