FNWB vs NRIM: Correlation
Measured on weekly returns over the past three years, First Northwest Bancorp (FNWB) and Northrim BanCorp Inc (NRIM) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNWB and NRIM?
On 3 years of weekly data the FNWB/NRIM correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.40 over 3. The 5-year figure is 0.33, and annualized covariance runs at 508.9 %².
By 3-year correlation, NRIM places #5 of the 10 assets tracked against FNWB. The last year tells two different stories: FNWB led by 34.9 percentage points, +46.4% for FNWB against +11.5% for NRIM.
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.
FNWB vs NRIM: side by side
| FNWB (First Northwest Bancorp) | NRIM (Northrim BanCorp Inc) | |
|---|---|---|
| 1-year return | +46.4% | +11.5% |
| 5-year return | -35.8% | +203.9% |
| Volatility (ann.) | 34.5% | 36.9% |
| Beta vs S&P 500 | 0.28 | 0.89 |
| Max drawdown (3Y) | -55.0% | -24.9% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | 65.5 | 8.4 |
| Dividend yield | 0.00% | 1.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNWB | NRIM |
|---|---|---|
| 2022 | -22.7% | +30.7% |
| 2023 | +6.1% | +10.4% |
| 2024 | -34.3% | +41.9% |
| 2025 | -6.8% | +40.5% |
| 2026 | +18.8% | -1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNWB and NRIM good diversifiers for each other?
Reasonably. At 0.40, FNWB and NRIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FNWB and NRIM?
The FNWB/NRIM correlation stands at 0.40 on a 3-year window (1 year: 0.34, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is NRIM a good diversifier for FNWB?
Reasonably. At 0.40, FNWB and NRIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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/fnwb-vs-nrim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fnwb-vs-nrim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNWB correlations · NRIM correlations
