NWBI vs WSBC: Correlation
Northwest Bancshares, Inc. (NWBI) and WesBanco, Inc. (WSBC) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and WSBC?
Across a 3-year window, the weekly returns of NWBI and WSBC correlate at 0.88, 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 0.83, with an annualized covariance of 616.6 %².
By 3-year correlation, WSBC places #5 of the 37 assets tracked against NWBI. Twelve-month performance is nearly a tie, at +27.7% for NWBI and +28.6% for WSBC.
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 WSBC: side by side
| NWBI (Northwest Bancshares, Inc.) | WSBC (WesBanco, Inc.) | |
|---|---|---|
| 1-year return | +27.7% | +28.6% |
| 5-year return | +62.0% | +48.2% |
| Volatility (ann.) | 24.9% | 28.3% |
| Beta vs S&P 500 | 0.60 | 0.77 |
| Max drawdown (3Y) | -26.6% | -26.9% |
| Market cap | $2.2B | $3.9B |
| P/E (trailing) | 14.9 | 11.5 |
| Dividend yield | 5.22% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWBI | WSBC |
|---|---|---|
| 2022 | +4.6% | +9.9% |
| 2023 | -4.4% | -10.9% |
| 2024 | +12.7% | +8.8% |
| 2025 | -2.9% | +7.0% |
| 2026 | +33.2% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and WSBC good diversifiers for each other?
No. With a correlation of 0.88, NWBI and WSBC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NWBI and WSBC?
Using weekly returns as of 2026-08-27: 0.88 over 3 years, with 0.84 over the last year and 0.83 over 5 years.
Is WSBC a good diversifier for NWBI?
No. With a correlation of 0.88, NWBI and WSBC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 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-wsbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwbi-vs-wsbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NWBI correlations · WSBC correlations
