FNWB vs NTB: Correlation
First Northwest Bancorp (FNWB) and Bank of N.T. Butterfield & Son Limited (The) Voting (NTB) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNWB and NTB?
Over the past 3 years, FNWB and NTB moved with a correlation of 0.42, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 337.9 %².
In FNWB's tracked universe of 10 assets, NTB sits right near the top at #2. On 12-month performance FNWB holds a 12.4-point edge, +46.4% against +34.0%.
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 NTB: side by side
| FNWB (First Northwest Bancorp) | NTB (Bank of N.T. Butterfield & Son Limited (The) Voting) | |
|---|---|---|
| 1-year return | +46.4% | +34.0% |
| 5-year return | -35.8% | +125.2% |
| Volatility (ann.) | 34.5% | 23.5% |
| Beta vs S&P 500 | 0.28 | 0.71 |
| Max drawdown (3Y) | -55.0% | -14.7% |
| Market cap | $0.1B | $2.3B |
| P/E (trailing) | 65.5 | 10.4 |
| Dividend yield | 0.00% | 3.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNWB | NTB |
|---|---|---|
| 2022 | -22.7% | -17.5% |
| 2023 | +6.1% | +14.3% |
| 2024 | -34.3% | +20.2% |
| 2025 | -6.8% | +41.0% |
| 2026 | +18.8% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNWB and NTB good diversifiers for each other?
Reasonably. At 0.42, FNWB and NTB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FNWB and NTB?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.48 over the last year and 0.35 over 5 years.
Is NTB a good diversifier for FNWB?
Reasonably. At 0.42, FNWB and NTB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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
$ curl https://www.pairbook.io/api/v1/pairs/fnwb-vs-ntb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fnwb-vs-ntb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNWB correlations · NTB correlations
