FRST vs NWBI: Correlation
Primis Financial Corp. (FRST) and Northwest Bancshares, Inc. (NWBI) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRST and NWBI?
Over the past 3 years, FRST and NWBI moved with a correlation of 0.78, which is strong. The past 12 months show a weaker link (0.66) than the 3-year average (0.78). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 649.8 %².
By 3-year correlation, NWBI places #4 of the 11 assets tracked against FRST. The last year tells two different stories: FRST led by 18.5 percentage points, +46.2% for FRST against +27.7% for NWBI.
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.
FRST vs NWBI: side by side
| FRST (Primis Financial Corp.) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +46.2% | +27.7% |
| 5-year return | +26.9% | +62.0% |
| Volatility (ann.) | 33.3% | 24.9% |
| Beta vs S&P 500 | 0.88 | 0.60 |
| Max drawdown (3Y) | -39.3% | -26.6% |
| Market cap | $0.4B | $2.2B |
| P/E (trailing) | 7.4 | 14.9 |
| Dividend yield | 2.48% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRST | NWBI |
|---|---|---|
| 2022 | -18.8% | +4.6% |
| 2023 | +11.5% | -4.4% |
| 2024 | -4.7% | +12.7% |
| 2025 | +23.9% | -2.9% |
| 2026 | +16.9% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRST and NWBI good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FRST and NWBI?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.66 over the last year and 0.72 over 5 years.
Is NWBI a good diversifier for FRST?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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/frst-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frst-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRST correlations · NWBI correlations
