NWBI vs STBA: Correlation
Northwest Bancshares, Inc. (NWBI) and S&T Bancorp, Inc. (STBA) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and STBA?
Across a 3-year window, the weekly returns of NWBI and STBA correlate at 0.87, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 621.9 %².
By 3-year correlation, STBA places #7 of the 37 assets tracked against NWBI. Neither side won the trailing year by much: +27.7% against +29.0%.
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 STBA: side by side
| NWBI (Northwest Bancshares, Inc.) | STBA (S&T Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +27.7% | +29.0% |
| 5-year return | +62.0% | +102.2% |
| Volatility (ann.) | 24.9% | 28.7% |
| Beta vs S&P 500 | 0.60 | 0.68 |
| Max drawdown (3Y) | -26.6% | -26.1% |
| Market cap | $2.2B | $1.8B |
| P/E (trailing) | 14.9 | 13.3 |
| Dividend yield | 5.22% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | STBA |
|---|---|---|
| 2022 | +4.6% | +12.6% |
| 2023 | -4.4% | +2.1% |
| 2024 | +12.7% | +18.7% |
| 2025 | -2.9% | +6.7% |
| 2026 | +33.2% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and STBA good diversifiers for each other?
No: a correlation of 0.87 means NWBI and STBA tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between NWBI and STBA?
The NWBI/STBA correlation stands at 0.87 on a 3-year window (1 year: 0.77, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is STBA a good diversifier for NWBI?
No: a correlation of 0.87 means NWBI and STBA tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
A reading of 0.87 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
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Related comparisons
Hubs: NWBI correlations · STBA correlations
