LKFN vs NWBI: Correlation
Lakeland Financial Corporation (LKFN) and Northwest Bancshares, Inc. (NWBI) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LKFN and NWBI?
Across a 3-year window, the weekly returns of LKFN and NWBI correlate at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.89) sits close to the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 651.5 %².
Few assets follow LKFN as closely as NWBI, which ranks #1 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with NWBI ahead by 38.1 points (-10.4% versus +27.7%).
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.
LKFN vs NWBI: side by side
| LKFN (Lakeland Financial Corporation) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | -10.4% | +27.7% |
| 5-year return | +4.7% | +62.0% |
| Volatility (ann.) | 29.9% | 24.9% |
| Beta vs S&P 500 | 0.75 | 0.60 |
| Max drawdown (3Y) | -31.7% | -26.6% |
| Market cap | $1.5B | $2.2B |
| P/E (trailing) | 13.6 | 14.9 |
| Dividend yield | 3.46% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LKFN | NWBI |
|---|---|---|
| 2022 | -7.0% | +4.6% |
| 2023 | -7.8% | -4.4% |
| 2024 | +8.7% | +12.7% |
| 2025 | -14.3% | -2.9% |
| 2026 | +6.4% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LKFN and NWBI good diversifiers for each other?
No. With a correlation of 0.88, LKFN and NWBI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between LKFN and NWBI?
The LKFN/NWBI correlation stands at 0.88 on a 3-year window (1 year: 0.89, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is NWBI a good diversifier for LKFN?
No. With a correlation of 0.88, LKFN and NWBI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lkfn-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lkfn-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LKFN correlations · NWBI correlations
