NWBI vs PDLB: Correlation
Northwest Bancshares, Inc. (NWBI) and Ponce Financial Group, Inc. (PDLB) 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 NWBI and PDLB?
Over the past 3 years, NWBI and PDLB moved with a correlation of 0.71, which is strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.71 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 453.5 %².
By 3-year correlation, PDLB places #28 of the 37 assets tracked against NWBI. On 12-month performance PDLB holds a 8.7-point edge, +27.7% against +36.4%.
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.
NWBI vs PDLB: side by side
| NWBI (Northwest Bancshares, Inc.) | PDLB (Ponce Financial Group, Inc.) | |
|---|---|---|
| 1-year return | +27.7% | +36.4% |
| 5-year return | +62.0% | +106.7% |
| Volatility (ann.) | 24.9% | 25.5% |
| Beta vs S&P 500 | 0.60 | 0.76 |
| Max drawdown (3Y) | -26.6% | -21.5% |
| Market cap | $2.2B | $0.5B |
| P/E (trailing) | 14.9 | 14.2 |
| Dividend yield | 5.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | PDLB |
|---|---|---|
| 2022 | +4.6% | -10.3% |
| 2023 | -4.4% | +4.7% |
| 2024 | +12.7% | +33.2% |
| 2025 | -2.9% | +25.8% |
| 2026 | +33.2% | +24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and PDLB good diversifiers for each other?
Only partially. A correlation of 0.71 means NWBI and PDLB 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 NWBI and PDLB?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.67 over the last year and 0.61 over 5 years.
Is PDLB a good diversifier for NWBI?
Only partially. A correlation of 0.71 means NWBI and PDLB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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: NWBI correlations · PDLB correlations
