NIC vs WSBC: Correlation
How closely do Nicolet Bankshares Inc. (NIC) and WesBanco, Inc. (WSBC) 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 NIC and WSBC?
Across a 3-year window, the weekly returns of NIC and WSBC correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.77 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 681.3 %².
WSBC is one of the assets that tracks NIC most closely: it ranks #3 out of the 12 assets we track against NIC. Their 12-month results are close: +24.0% for NIC against +28.6% for WSBC.
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.
NIC vs WSBC: side by side
| NIC (Nicolet Bankshares Inc.) | WSBC (WesBanco, Inc.) | |
|---|---|---|
| 1-year return | +24.0% | +28.6% |
| 5-year return | +131.8% | +48.2% |
| Volatility (ann.) | 29.4% | 28.3% |
| Beta vs S&P 500 | 0.69 | 0.77 |
| Max drawdown (3Y) | -17.9% | -26.9% |
| Market cap | $3.6B | $3.9B |
| P/E (trailing) | 19.2 | 11.5 |
| Dividend yield | 0.77% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NIC | WSBC |
|---|---|---|
| 2022 | -7.0% | +9.9% |
| 2023 | +1.9% | -10.9% |
| 2024 | +31.9% | +8.8% |
| 2025 | +16.8% | +7.0% |
| 2026 | +42.0% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIC and WSBC good diversifiers for each other?
No. With a correlation of 0.82, NIC and WSBC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NIC and WSBC?
As of 2026-08-27, the correlation of weekly returns between NIC and WSBC is 0.82 over 3 years, 0.77 over 1 year and 0.75 over 5 years.
Is WSBC a good diversifier for NIC?
No. With a correlation of 0.82, NIC and WSBC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 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/nic-vs-wsbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nic-vs-wsbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NIC correlations · WSBC correlations
