NBN vs NWBI: Correlation
Northeast Bank (NBN) and Northwest Bancshares, Inc. (NWBI) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBN and NWBI?
On 3 years of weekly data the NBN/NWBI correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.71 over 3. The 5-year figure is 0.62, and annualized covariance runs at 593.2 %².
Among the 13 assets we track against NBN, NWBI ranks #5 by 3-year correlation. Over the last 12 months NWBI came out ahead by 10.0 percentage points (+17.7% against +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.
NBN vs NWBI: side by side
| NBN (Northeast Bank) | NWBI (Northwest Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | +27.7% |
| 5-year return | +303.8% | +62.0% |
| Volatility (ann.) | 33.6% | 24.9% |
| Beta vs S&P 500 | 0.81 | 0.60 |
| Max drawdown (3Y) | -27.6% | -26.6% |
| Market cap | – | $2.2B |
| P/E (trailing) | 10.2 | 14.9 |
| Dividend yield | 0.03% | 5.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBN | NWBI |
|---|---|---|
| 2022 | +17.9% | +4.6% |
| 2023 | +31.2% | -4.4% |
| 2024 | +66.3% | +12.7% |
| 2025 | +13.3% | -2.9% |
| 2026 | +25.3% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBN and NWBI good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NBN and NWBI?
As of 2026-08-27, the correlation of weekly returns between NBN and NWBI is 0.71 over 3 years, 0.75 over 1 year and 0.62 over 5 years.
Is NWBI a good diversifier for NBN?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/nbn-vs-nwbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbn-vs-nwbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NBN correlations · NWBI correlations
