SITC vs WAL: Correlation
Measured on weekly returns over the past three years, SITE Centers Corp. (SITC) and Western Alliance Bancorporation (WAL) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SITC and WAL?
Over the past 3 years, SITC and WAL moved with a correlation of 0.59, which is moderate. The past 12 months show a weaker link (0.46) than the 3-year average (0.59). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 579.5 %².
In SITC's tracked universe of 13 assets, WAL sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months WAL outperformed by 33.9 percentage points (-43.2% for SITC against -9.3% for WAL). One caveat on sizing: WAL is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SITC vs WAL: side by side
| SITC (SITE Centers Corp.) | WAL (Western Alliance Bancorporation) | |
|---|---|---|
| 1-year return | -43.2% | -9.3% |
| 5-year return | -37.3% | -9.7% |
| Volatility (ann.) | 24.9% | 39.5% |
| Beta vs S&P 500 | 0.73 | 1.51 |
| Max drawdown (3Y) | -59.0% | -36.0% |
| Market cap | $0.2B | $8.6B |
| P/E (trailing) | 1.2 | 9.0 |
| Dividend yield | 0.00% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SITC | WAL |
|---|---|---|
| 2022 | -2.2% | -43.7% |
| 2023 | +19.2% | +14.1% |
| 2024 | +0.2% | +29.7% |
| 2025 | -15.1% | +2.5% |
| 2026 | -39.4% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SITC and WAL good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SITC and WAL?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.46 over the last year and 0.49 over 5 years.
Is WAL a good diversifier for SITC?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: SITC correlations · WAL correlations
