NBTB vs PCB: Correlation
How closely do NBT Bancorp Inc. (NBTB) and PCB Bancorp (PCB) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBTB and PCB?
Over the past 3 years, NBTB and PCB moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 587.3 %².
By 3-year correlation, PCB places #10 of the 17 assets tracked against NBTB. On 12-month performance PCB holds a 11.0-point edge, +18.1% against +29.1%.
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.
NBTB vs PCB: side by side
| NBTB (NBT Bancorp Inc.) | PCB (PCB Bancorp) | |
|---|---|---|
| 1-year return | +18.1% | +29.1% |
| 5-year return | +68.0% | +74.8% |
| Volatility (ann.) | 27.2% | 26.3% |
| Beta vs S&P 500 | 0.75 | 0.69 |
| Max drawdown (3Y) | -25.7% | -22.8% |
| Market cap | $2.7B | $0.4B |
| P/E (trailing) | 12.5 | 9.5 |
| Dividend yield | 2.87% | 3.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBTB | PCB |
|---|---|---|
| 2022 | +16.0% | -17.0% |
| 2023 | -0.1% | +8.9% |
| 2024 | +17.7% | +14.6% |
| 2025 | -10.2% | +11.2% |
| 2026 | +26.0% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBTB and PCB good diversifiers for each other?
No. With a correlation of 0.82, NBTB and PCB move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NBTB and PCB?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.80 over the last year and 0.65 over 5 years.
Is PCB a good diversifier for NBTB?
No. With a correlation of 0.82, NBTB and PCB move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 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/nbtb-vs-pcb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbtb-vs-pcb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NBTB correlations · PCB correlations
