HFWA vs WABC: Correlation
Heritage Financial Corporation (HFWA) and Westamerica Bancorporation (WABC) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HFWA and WABC?
On 3 years of weekly data the HFWA/WABC correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.69) than the 3-year average (0.83). The 5-year figure is 0.78, and annualized covariance runs at 616.8 %².
Among the 14 assets we track against HFWA, WABC ranks #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.8% for HFWA and +19.8% for WABC.
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.
HFWA vs WABC: side by side
| HFWA (Heritage Financial Corporation) | WABC (Westamerica Bancorporation) | |
|---|---|---|
| 1-year return | +20.8% | +19.8% |
| 5-year return | +38.4% | +22.6% |
| Volatility (ann.) | 30.5% | 24.4% |
| Beta vs S&P 500 | 0.66 | 0.61 |
| Max drawdown (3Y) | -22.4% | -24.7% |
| Market cap | $1.2B | $1.3B |
| P/E (trailing) | 13.7 | 12.9 |
| Dividend yield | 3.34% | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HFWA | WABC |
|---|---|---|
| 2022 | +29.3% | +5.2% |
| 2023 | -26.9% | -0.8% |
| 2024 | +19.8% | -3.6% |
| 2025 | +0.6% | -5.4% |
| 2026 | +24.4% | +24.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HFWA and WABC good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HFWA and WABC?
The HFWA/WABC correlation stands at 0.83 on a 3-year window (1 year: 0.69, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is WABC a good diversifier for HFWA?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 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/hfwa-vs-wabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hfwa-vs-wabc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HFWA correlations · WABC correlations
