NWBI vs PRK: Correlation
Measured on weekly returns over the past three years, Northwest Bancshares, Inc. (NWBI) and Park National Corporation (PRK) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and PRK?
Across a 3-year window, the weekly returns of NWBI and PRK correlate at 0.87, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 610.8 %².
Within NWBI's tracked universe of 37 assets, PRK comes in at #6 by 3-year correlation. Over the last 12 months NWBI came out ahead by 10.5 percentage points (+27.7% against +17.2%).
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 PRK: side by side
| NWBI (Northwest Bancshares, Inc.) | PRK (Park National Corporation) | |
|---|---|---|
| 1-year return | +27.7% | +17.2% |
| 5-year return | +62.0% | +98.6% |
| Volatility (ann.) | 24.9% | 28.2% |
| Beta vs S&P 500 | 0.60 | 0.78 |
| Max drawdown (3Y) | -26.6% | -30.4% |
| Market cap | $2.2B | $3.6B |
| P/E (trailing) | 14.9 | 17.7 |
| Dividend yield | 5.22% | 2.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | PRK |
|---|---|---|
| 2022 | +4.6% | +6.1% |
| 2023 | -4.4% | -2.0% |
| 2024 | +12.7% | +33.0% |
| 2025 | -2.9% | -8.1% |
| 2026 | +33.2% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and PRK good diversifiers for each other?
No. With a correlation of 0.87, NWBI and PRK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NWBI and PRK?
As of 2026-08-27, the correlation of weekly returns between NWBI and PRK is 0.87 over 3 years, 0.81 over 1 year and 0.81 over 5 years.
Is PRK a good diversifier for NWBI?
No. With a correlation of 0.87, NWBI and PRK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 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/nwbi-vs-prk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nwbi-vs-prk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NWBI correlations · PRK correlations
