NBTB vs PEBO: Correlation
How closely do NBT Bancorp Inc. (NBTB) and Peoples Bancorp Inc. (PEBO) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBTB and PEBO?
On 3 years of weekly data the NBTB/PEBO correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 594.5 %².
Among the 17 assets we track against NBTB, PEBO ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PEBO ahead by 15.5 points (+18.1% versus +33.6%).
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 PEBO: side by side
| NBTB (NBT Bancorp Inc.) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +18.1% | +33.6% |
| 5-year return | +68.0% | +66.3% |
| Volatility (ann.) | 27.2% | 25.1% |
| Beta vs S&P 500 | 0.75 | 0.69 |
| Max drawdown (3Y) | -25.7% | -24.5% |
| Market cap | $2.7B | $1.4B |
| P/E (trailing) | 12.5 | 12.0 |
| Dividend yield | 2.87% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBTB | PEBO |
|---|---|---|
| 2022 | +16.0% | -6.6% |
| 2023 | -0.1% | +26.5% |
| 2024 | +17.7% | -1.0% |
| 2025 | -10.2% | +0.1% |
| 2026 | +26.0% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBTB and PEBO good diversifiers for each other?
No. With a correlation of 0.87, NBTB and PEBO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NBTB and PEBO?
As of 2026-08-27, the correlation of weekly returns between NBTB and PEBO is 0.87 over 3 years, 0.82 over 1 year and 0.75 over 5 years.
Is PEBO a good diversifier for NBTB?
No. With a correlation of 0.87, NBTB and PEBO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NBTB correlations · PEBO correlations
