FNWB vs WNEB: Correlation
Measured on weekly returns over the past three years, First Northwest Bancorp (FNWB) and Western New England Bancorp, Inc. (WNEB) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNWB and WNEB?
On 3 years of weekly data the FNWB/WNEB correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.41 over 3. The 5-year figure is 0.40, and annualized covariance runs at 455.3 %².
By 3-year correlation, WNEB places #4 of the 10 assets tracked against FNWB. Their recent paths diverged sharply: over the last 12 months FNWB outperformed by 34.5 percentage points (+46.4% for FNWB against +11.9% for WNEB).
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 WNEB: side by side
| FNWB (First Northwest Bancorp) | WNEB (Western New England Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +46.4% | +11.9% |
| 5-year return | -35.8% | +85.9% |
| Volatility (ann.) | 34.5% | 32.1% |
| Beta vs S&P 500 | 0.28 | 0.66 |
| Max drawdown (3Y) | -55.0% | -33.3% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 65.5 | 16.5 |
| Dividend yield | 0.00% | 2.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNWB | WNEB |
|---|---|---|
| 2022 | -22.7% | +11.0% |
| 2023 | +6.1% | -1.1% |
| 2024 | -34.3% | +6.0% |
| 2025 | -6.8% | +40.9% |
| 2026 | +18.8% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNWB and WNEB good diversifiers for each other?
Reasonably. At 0.41, FNWB and WNEB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FNWB and WNEB?
As of 2026-08-27, the correlation of weekly returns between FNWB and WNEB is 0.41 over 3 years, 0.35 over 1 year and 0.40 over 5 years.
Is WNEB a good diversifier for FNWB?
Reasonably. At 0.41, FNWB and WNEB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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
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Related comparisons
Hubs: FNWB correlations · WNEB correlations
