NWBI vs THFF: Correlation
Measured on weekly returns over the past three years, Northwest Bancshares, Inc. (NWBI) and First Financial Corporation (THFF) carry a correlation of 0.90, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and THFF?
Across a 3-year window, the weekly returns of NWBI and THFF correlate at 0.90, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.84) sits close to the 3-year figure. Stretching to 5 years gives 0.87, with an annualized covariance of 630.1 %².
In NWBI's tracked universe of 37 assets, THFF sits right near the top at #1. The trailing year gives THFF the advantage: +27.7% versus +38.8%, a 11.1-point spread.
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 THFF: side by side
| NWBI (Northwest Bancshares, Inc.) | THFF (First Financial Corporation) | |
|---|---|---|
| 1-year return | +27.7% | +38.8% |
| 5-year return | +62.0% | +135.2% |
| Volatility (ann.) | 24.9% | 28.2% |
| Beta vs S&P 500 | 0.60 | 0.81 |
| Max drawdown (3Y) | -26.6% | -20.2% |
| Market cap | $2.2B | $0.9B |
| P/E (trailing) | 14.9 | 11.1 |
| Dividend yield | 5.22% | 2.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | THFF |
|---|---|---|
| 2022 | +4.6% | +4.4% |
| 2023 | -4.4% | -2.6% |
| 2024 | +12.7% | +11.1% |
| 2025 | -2.9% | +36.2% |
| 2026 | +33.2% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and THFF good diversifiers for each other?
No: a correlation of 0.90 means NWBI and THFF tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between NWBI and THFF?
As of 2026-08-27, the correlation of weekly returns between NWBI and THFF is 0.90 over 3 years, 0.84 over 1 year and 0.87 over 5 years.
Is THFF a good diversifier for NWBI?
No: a correlation of 0.90 means NWBI and THFF tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.90 mean?
A reading of 0.90 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
$ curl https://www.pairbook.io/api/v1/pairs/nwbi-vs-thff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nwbi-vs-thff/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWBI correlations · THFF correlations
