NWBI vs RBCAA: Correlation
Measured on weekly returns over the past three years, Northwest Bancshares, Inc. (NWBI) and Republic Bancorp, Inc. (RBCAA) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and RBCAA?
On 3 years of weekly data the NWBI/RBCAA correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.85 over 3. The 5-year figure is 0.72, and annualized covariance runs at 591.2 %².
Within NWBI's tracked universe of 37 assets, RBCAA comes in at #11 by 3-year correlation. Neither side won the trailing year by much: +27.7% against +25.1%.
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 RBCAA: side by side
| NWBI (Northwest Bancshares, Inc.) | RBCAA (Republic Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +27.7% | +25.1% |
| 5-year return | +62.0% | +117.3% |
| Volatility (ann.) | 24.9% | 28.1% |
| Beta vs S&P 500 | 0.60 | 0.68 |
| Max drawdown (3Y) | -26.6% | -21.6% |
| Market cap | $2.2B | $1.8B |
| P/E (trailing) | 14.9 | 14.4 |
| Dividend yield | 5.22% | 2.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | RBCAA |
|---|---|---|
| 2022 | +4.6% | -16.9% |
| 2023 | -4.4% | +39.4% |
| 2024 | +12.7% | +30.3% |
| 2025 | -2.9% | +1.3% |
| 2026 | +33.2% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and RBCAA good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between NWBI and RBCAA?
As of 2026-08-27, the correlation of weekly returns between NWBI and RBCAA is 0.85 over 3 years, 0.76 over 1 year and 0.72 over 5 years.
Is RBCAA a good diversifier for NWBI?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nwbi-vs-rbcaa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nwbi-vs-rbcaa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NWBI correlations · RBCAA correlations
