UNB vs WNEB: Correlation
Measured on weekly returns over the past three years, Union Bankshares, Inc. (UNB) and Western New England Bancorp, Inc. (WNEB) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UNB and WNEB?
On 3 years of weekly data the UNB/WNEB correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 563.9 %².
In UNB's tracked universe of 12 assets, WNEB sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months WNEB outperformed by 17.4 percentage points (-5.5% for UNB against +11.9% for WNEB).
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.
UNB vs WNEB: side by side
| UNB (Union Bankshares, Inc.) | WNEB (Western New England Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -5.5% | +11.9% |
| 5-year return | -7.4% | +85.9% |
| Volatility (ann.) | 34.7% | 32.1% |
| Beta vs S&P 500 | 0.57 | 0.66 |
| Max drawdown (3Y) | -40.1% | -33.3% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 9.1 | 16.5 |
| Dividend yield | 6.13% | 2.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UNB | WNEB |
|---|---|---|
| 2022 | -15.4% | +11.0% |
| 2023 | +35.3% | -1.1% |
| 2024 | -0.7% | +6.0% |
| 2025 | -13.8% | +40.9% |
| 2026 | +3.2% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UNB and WNEB good diversifiers for each other?
Only partially. A correlation of 0.51 means UNB and WNEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between UNB and WNEB?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.61 over the last year and 0.40 over 5 years.
Is WNEB a good diversifier for UNB?
Only partially. A correlation of 0.51 means UNB and WNEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/unb-vs-wneb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/unb-vs-wneb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: UNB correlations · WNEB correlations
