ONB vs WTFC: Correlation
How closely do Old National Bancorp (ONB) and Wintrust Financial Corporation (WTFC) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONB and WTFC?
On 3 years of weekly data the ONB/WTFC correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. The 5-year figure is 0.85, and annualized covariance runs at 712.9 %².
By 3-year correlation, WTFC places #4 of the 26 assets tracked against ONB. Their 12-month results are close: +15.1% for ONB against +12.7% for WTFC.
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.
ONB vs WTFC: side by side
| ONB (Old National Bancorp) | WTFC (Wintrust Financial Corporation) | |
|---|---|---|
| 1-year return | +15.1% | +12.7% |
| 5-year return | +81.8% | +127.7% |
| Volatility (ann.) | 29.0% | 27.6% |
| Beta vs S&P 500 | 1.07 | 1.06 |
| Max drawdown (3Y) | -26.1% | -31.0% |
| Market cap | $9.9B | $10.3B |
| P/E (trailing) | 11.4 | 12.3 |
| Dividend yield | 2.21% | 1.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONB | WTFC |
|---|---|---|
| 2022 | +2.5% | -5.5% |
| 2023 | -2.5% | +12.0% |
| 2024 | +32.5% | +36.8% |
| 2025 | +5.4% | +13.9% |
| 2026 | +17.3% | +10.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONB and WTFC good diversifiers for each other?
No: a correlation of 0.89 means ONB and WTFC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ONB and WTFC?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.87 over the last year and 0.85 over 5 years.
Is WTFC a good diversifier for ONB?
No: a correlation of 0.89 means ONB and WTFC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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/onb-vs-wtfc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/onb-vs-wtfc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ONB correlations · WTFC correlations
