NRIM vs PEBO: Correlation
Measured on weekly returns over the past three years, Northrim BanCorp Inc (NRIM) and Peoples Bancorp Inc. (PEBO) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRIM and PEBO?
On 3 years of weekly data the NRIM/PEBO correlation comes out at 0.79, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.79 over 3. The 5-year figure is 0.68, and annualized covariance runs at 727.2 %².
Few assets follow NRIM as closely as PEBO, which ranks #2 of 12 tracked partners. The last year tells two different stories: PEBO led by 22.1 percentage points, +11.5% for NRIM against +33.6% for PEBO.
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.
NRIM vs PEBO: side by side
| NRIM (Northrim BanCorp Inc) | PEBO (Peoples Bancorp Inc.) | |
|---|---|---|
| 1-year return | +11.5% | +33.6% |
| 5-year return | +203.9% | +66.3% |
| Volatility (ann.) | 36.9% | 25.1% |
| Beta vs S&P 500 | 0.89 | 0.69 |
| Max drawdown (3Y) | -24.9% | -24.5% |
| Market cap | $0.6B | $1.4B |
| P/E (trailing) | 8.4 | 12.0 |
| Dividend yield | 1.25% | 4.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRIM | PEBO |
|---|---|---|
| 2022 | +30.7% | -6.6% |
| 2023 | +10.4% | +26.5% |
| 2024 | +41.9% | -1.0% |
| 2025 | +40.5% | +0.1% |
| 2026 | -1.8% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRIM and PEBO good diversifiers for each other?
Only partially. A correlation of 0.79 means NRIM and PEBO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NRIM and PEBO?
The NRIM/PEBO correlation stands at 0.79 on a 3-year window (1 year: 0.70, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is PEBO a good diversifier for NRIM?
Only partially. A correlation of 0.79 means NRIM and PEBO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 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.
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Related comparisons
Hubs: NRIM correlations · PEBO correlations
