UTMD vs WSBC: Correlation
Utah Medical Products, Inc. (UTMD) and WesBanco, Inc. (WSBC) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UTMD and WSBC?
Across a 3-year window, the weekly returns of UTMD and WSBC correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 347.5 %².
In UTMD's tracked universe of 10 assets, WSBC sits right near the top at #1. The trailing year gives WSBC the advantage: +19.8% versus +28.6%, a 8.8-point spread.
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.
UTMD vs WSBC: side by side
| UTMD (Utah Medical Products, Inc.) | WSBC (WesBanco, Inc.) | |
|---|---|---|
| 1-year return | +19.8% | +28.6% |
| 5-year return | -11.0% | +48.2% |
| Volatility (ann.) | 22.1% | 28.3% |
| Beta vs S&P 500 | 0.50 | 0.77 |
| Max drawdown (3Y) | -42.5% | -26.9% |
| Market cap | $0.2B | $3.9B |
| P/E (trailing) | 21.6 | 11.5 |
| Dividend yield | 1.74% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UTMD | WSBC |
|---|---|---|
| 2022 | +1.9% | +9.9% |
| 2023 | -15.1% | -10.9% |
| 2024 | -25.7% | +8.8% |
| 2025 | -7.0% | +7.0% |
| 2026 | +29.5% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UTMD and WSBC good diversifiers for each other?
Only partially. A correlation of 0.56 means UTMD and WSBC 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 UTMD and WSBC?
The UTMD/WSBC correlation stands at 0.56 on a 3-year window (1 year: 0.50, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is WSBC a good diversifier for UTMD?
Only partially. A correlation of 0.56 means UTMD and WSBC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/utmd-vs-wsbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/utmd-vs-wsbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: UTMD correlations · WSBC correlations
