MTB vs WTFC: Correlation
M&T Bank (MTB) and Wintrust Financial Corporation (WTFC) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTB and WTFC?
Across a 3-year window, the weekly returns of MTB and WTFC correlate at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.85 over 3. Stretching to 5 years gives 0.81, with an annualized covariance of 621.9 %².
By 3-year correlation, WTFC places #8 of the 35 assets tracked against MTB. Over the last 12 months MTB came out ahead by 9.0 percentage points (+21.7% against +12.7%).
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.
MTB vs WTFC: side by side
| MTB (M&T Bank) | WTFC (Wintrust Financial Corporation) | |
|---|---|---|
| 1-year return | +21.7% | +12.7% |
| 5-year return | +101.3% | +127.7% |
| Volatility (ann.) | 26.5% | 27.6% |
| Beta vs S&P 500 | 0.83 | 1.06 |
| Max drawdown (3Y) | -28.5% | -31.0% |
| Market cap | $34.5B | $10.3B |
| P/E (trailing) | 12.8 | 12.3 |
| Dividend yield | 2.48% | 1.37% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | MTB | WTFC |
|---|---|---|
| 2022 | -2.9% | -5.5% |
| 2023 | -1.7% | +12.0% |
| 2024 | +41.7% | +36.8% |
| 2025 | +10.4% | +13.9% |
| 2026 | +20.1% | +10.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTB and WTFC good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MTB and WTFC?
As of 2026-08-27, the correlation of weekly returns between MTB and WTFC is 0.85 over 3 years, 0.88 over 1 year and 0.81 over 5 years.
Is WTFC a good diversifier for MTB?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 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/mtb-vs-wtfc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtb-vs-wtfc/)
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Related comparisons
Hubs: MTB correlations · WTFC correlations
