PEBO vs WTBA: Correlation
How closely do Peoples Bancorp Inc. (PEBO) and West Bancorporation (WTBA) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEBO and WTBA?
Over the past 3 years, PEBO and WTBA moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.85 over 1 year against 0.86 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 655.7 %².
Among the 26 assets we track against PEBO, WTBA ranks #9 by 3-year correlation. On 12-month performance WTBA holds a 14.3-point edge, +33.6% against +47.9%.
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.
PEBO vs WTBA: side by side
| PEBO (Peoples Bancorp Inc.) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +33.6% | +47.9% |
| 5-year return | +66.3% | +16.8% |
| Volatility (ann.) | 25.1% | 30.5% |
| Beta vs S&P 500 | 0.69 | 0.75 |
| Max drawdown (3Y) | -24.5% | -26.9% |
| Market cap | $1.4B | $0.5B |
| P/E (trailing) | 12.0 | 12.6 |
| Dividend yield | 4.18% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEBO | WTBA |
|---|---|---|
| 2022 | -6.6% | -14.4% |
| 2023 | +26.5% | -12.4% |
| 2024 | -1.0% | +7.7% |
| 2025 | +0.1% | +7.7% |
| 2026 | +36.7% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEBO and WTBA good diversifiers for each other?
No. With a correlation of 0.86, PEBO and WTBA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between PEBO and WTBA?
The PEBO/WTBA correlation stands at 0.86 on a 3-year window (1 year: 0.85, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is WTBA a good diversifier for PEBO?
No. With a correlation of 0.86, PEBO and WTBA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
A reading of 0.86 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PEBO correlations · WTBA correlations
