GL vs WNEB: Correlation
How closely do Globe Life (GL) and Western New England Bancorp, Inc. (WNEB) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GL and WNEB?
Over the past 3 years, GL and WNEB moved with a correlation of 0.41, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.41 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 468.2 %².
Within GL's tracked universe of 30 assets, WNEB comes in at #12 by 3-year correlation. The trailing year gives GL the advantage: +26.1% versus +11.9%, a 14.2-point spread.
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.
GL vs WNEB: side by side
| GL (Globe Life) | WNEB (Western New England Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +26.1% | +11.9% |
| 5-year return | +91.0% | +85.9% |
| Volatility (ann.) | 35.7% | 32.1% |
| Beta vs S&P 500 | 0.60 | 0.66 |
| Max drawdown (3Y) | -61.6% | -33.3% |
| Market cap | $13.5B | $0.3B |
| P/E (trailing) | 11.7 | 16.5 |
| Dividend yield | 0.68% | 2.03% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GL | WNEB |
|---|---|---|
| 2022 | +29.7% | +11.0% |
| 2023 | +1.8% | -1.1% |
| 2024 | -7.5% | +6.0% |
| 2025 | +26.5% | +40.9% |
| 2026 | +26.5% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GL and WNEB good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GL and WNEB?
As of 2026-08-27, the correlation of weekly returns between GL and WNEB is 0.41 over 3 years, 0.30 over 1 year and 0.36 over 5 years.
Is WNEB a good diversifier for GL?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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
$ curl https://www.pairbook.io/api/v1/pairs/gl-vs-wneb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gl-vs-wneb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GL correlations · WNEB correlations
